Carnegie Investment Counsel Sells 1,003 Shares of Sysco Co. (NYSE:SYY)

Carnegie Investment Counsel lessened its stake in Sysco Co. (NYSE:SYY) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,425 shares of the company’s stock after selling 1,003 shares during the period. Carnegie Investment Counsel’s holdings in Sysco were worth $1,562,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC grew its holdings in shares of Sysco by 39.2% in the second quarter. Renaissance Technologies LLC now owns 160,182 shares of the company’s stock worth $11,435,000 after purchasing an additional 45,082 shares during the last quarter. Axxcess Wealth Management LLC grew its holdings in Sysco by 54.9% in the 2nd quarter. Axxcess Wealth Management LLC now owns 12,083 shares of the company’s stock worth $863,000 after acquiring an additional 4,285 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Sysco by 4.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 42,987 shares of the company’s stock valued at $3,068,000 after acquiring an additional 1,682 shares during the period. Hsbc Holdings PLC raised its stake in shares of Sysco by 25.0% during the second quarter. Hsbc Holdings PLC now owns 1,178,231 shares of the company’s stock valued at $84,233,000 after acquiring an additional 235,645 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new stake in shares of Sysco during the second quarter worth about $1,402,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares in the company, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,306 shares of company stock worth $6,485,050. 0.54% of the stock is owned by corporate insiders.

Sysco Stock Performance

Shares of Sysco stock opened at $73.02 on Friday. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The firm’s 50-day moving average is $76.80 and its 200 day moving average is $75.75. The stock has a market cap of $35.87 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.93 and a beta of 1.18. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The firm had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.07 EPS. Sell-side analysts anticipate that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.79%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Jefferies Financial Group boosted their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Melius assumed coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target for the company. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 13th. Wells Fargo & Company dropped their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.93.

Sysco Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.