SYSCO Co. (SYY) Shares Sold by BKD Wealth Advisors LLC

BKD Wealth Advisors LLC lowered its stake in shares of SYSCO Co. (NYSE:SYY) by 1.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 57,389 shares of the company’s stock after selling 784 shares during the period. BKD Wealth Advisors LLC’s holdings in SYSCO were worth $4,204,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SYY. Trian Fund Management L.P. grew its holdings in shares of SYSCO by 0.8% during the first quarter. Trian Fund Management L.P. now owns 44,840,642 shares of the company’s stock valued at $2,688,645,000 after buying an additional 341,590 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of SYSCO by 64.6% during the second quarter. Bank of America Corp DE now owns 17,662,742 shares of the company’s stock valued at $1,206,188,000 after buying an additional 6,929,805 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of SYSCO by 1.2% during the second quarter. Janus Henderson Group PLC now owns 5,903,214 shares of the company’s stock valued at $403,131,000 after buying an additional 68,148 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of SYSCO by 14.9% during the second quarter. Bank of Montreal Can now owns 4,552,341 shares of the company’s stock valued at $310,878,000 after buying an additional 590,410 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of SYSCO by 2.1% during the second quarter. Victory Capital Management Inc. now owns 4,131,297 shares of the company’s stock valued at $282,126,000 after buying an additional 86,450 shares during the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.

SYSCO stock traded down $0.25 during midday trading on Tuesday, reaching $72.42. 8,316 shares of the company traded hands, compared to its average volume of 2,696,279. The company has a market cap of $38.07 billion, a price-to-earnings ratio of 23.14, a price-to-earnings-growth ratio of 1.98 and a beta of 0.56. SYSCO Co. has a 12 month low of $52.30 and a 12 month high of $75.98. The company has a quick ratio of 0.74, a current ratio of 1.21 and a debt-to-equity ratio of 3.01.

SYSCO (NYSE:SYY) last issued its quarterly earnings data on Monday, August 13th. The company reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. The company had revenue of $15.32 billion for the quarter, compared to the consensus estimate of $15.30 billion. SYSCO had a net margin of 2.44% and a return on equity of 68.15%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 earnings per share. Sell-side analysts expect that SYSCO Co. will post 3.49 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 26th. Investors of record on Friday, October 5th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.44 dividend on an annualized basis and a yield of 1.99%. SYSCO’s dividend payout ratio (DPR) is 45.86%.

In related news, SVP Brian R. Todd sold 9,147 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $73.82, for a total transaction of $675,231.54. Following the transaction, the senior vice president now owns 11,747 shares in the company, valued at $867,163.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard G. Tilghman sold 5,000 shares of the stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $70.61, for a total transaction of $353,050.00. Following the transaction, the director now owns 71,137 shares in the company, valued at approximately $5,022,983.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,969,811 shares of company stock worth $297,380,043. 9.60% of the stock is owned by insiders.

A number of equities research analysts have recently commented on the stock. ValuEngine upgraded shares of SYSCO from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. Citigroup increased their price target on shares of SYSCO from $67.00 to $69.00 and gave the company a “neutral” rating in a report on Tuesday, June 19th. Jefferies Financial Group set a $68.00 price target on shares of SYSCO and gave the company a “hold” rating in a report on Monday, August 13th. Morgan Stanley increased their price target on shares of SYSCO from $67.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday, August 14th. Finally, Loop Capital increased their price target on shares of SYSCO to $80.00 and gave the company a “buy” rating in a report on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $72.42.

About SYSCO

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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