Sysco Corporation $SYY Stock Sold by DMKC Advisory Services LLC

DMKC Advisory Services LLC cut its holdings in shares of Sysco Corporation (NYSE:SYY) by 14.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,823 shares of the company’s stock after selling 7,515 shares during the period. DMKC Advisory Services LLC’s holdings in Sysco were worth $3,339,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SYY. BlackRock Inc. purchased a new position in shares of Sysco during the 2nd quarter valued at approximately $3,596,356,000. Bank of America Corp DE acquired a new stake in shares of Sysco during the second quarter worth approximately $482,589,000. Dimensional Fund Advisors LP grew its position in shares of Sysco by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 4,667,412 shares of the company’s stock worth $332,871,000 after buying an additional 59,685 shares in the last quarter. Primecap Management Co. CA bought a new stake in shares of Sysco in the second quarter worth $313,503,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Sysco in the second quarter worth $273,323,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. BMO Capital Markets upped their price target on shares of Sysco from $90.00 to $98.00 in a report on Wednesday, August 5th. DA Davidson raised their price objective on shares of Sysco from $89.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Guggenheim reissued a “buy” rating and issued a $90.00 target price on shares of Sysco in a research report on Wednesday, September 16th. Piper Sandler boosted their target price on shares of Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Finally, Citigroup cut their target price on shares of Sysco from $87.00 to $84.00 and set a “neutral” rating on the stock in a research note on Thursday, November 5th. Eleven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.13.

Insiders Place Their Bets

In other Sysco news, Director Thomas Gerard Ondrof bought 2,500 shares of the stock in a transaction on Wednesday, November 4th. The stock was purchased at an average price of $76.62 per share, for a total transaction of $191,550.00. Following the completion of the purchase, the director directly owned 2,500 shares in the company, valued at approximately $191,550. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ronald Phillips sold 7,350 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $83.61, for a total transaction of $614,533.50. Following the sale, the executive vice president owned 38,650 shares of the company’s stock, valued at approximately $3,231,526.50. The trade was a 15.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 8,873 shares of company stock valued at $741,569. 0.55% of the stock is currently owned by corporate insiders.

Sysco Price Performance

Shares of SYY opened at $78.38 on Tuesday. The firm has a market cap of $38.56 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 2.17 and a beta of 0.66. The stock has a 50 day moving average of $79.82 and a 200-day moving average of $80.50. The company has a current ratio of 1.46, a quick ratio of 0.77 and a debt-to-equity ratio of 3.18. Sysco Corporation has a 52 week low of $68.19 and a 52 week high of $91.85.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $1.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.19. The business had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $22.02 billion. Sysco had a return on equity of 79.24% and a net margin of 2.12%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.15 EPS. As a group, analysts forecast that Sysco Corporation will post 5.06 EPS for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, October 2nd. Sysco’s payout ratio is currently 58.51%.

About Sysco

Sysco Corporation is a food distribution company headquartered in Houston, Texas. Founded in 1969, it supplies food and related products to customers in the foodservice and hospitality industries.

The company distributes fresh and frozen foods, meat, seafood, produce, dairy products, and pantry staples, as well as kitchen equipment, cleaning supplies, and other nonfood items. Its customers include restaurants, health care and educational facilities, lodging businesses, and other organizations that prepare and serve meals.

Sysco serves customers across the United States and in international markets, including Canada and parts of Europe.