Alpha Omega Wealth Management LLC Sells 225 Shares of Sysco Co. (NYSE:SYY)

Alpha Omega Wealth Management LLC lessened its stake in shares of Sysco Co. (NYSE:SYY) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,129 shares of the company’s stock after selling 225 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Sysco were worth $478,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in SYY. Canandaigua National Bank & Trust Co. grew its holdings in Sysco by 10.6% during the third quarter. Canandaigua National Bank & Trust Co. now owns 9,430 shares of the company’s stock valued at $736,000 after purchasing an additional 903 shares during the last quarter. Bright Rock Capital Management LLC acquired a new position in Sysco during the 3rd quarter worth $1,561,000. Czech National Bank lifted its position in Sysco by 5.6% during the 3rd quarter. Czech National Bank now owns 100,176 shares of the company’s stock worth $7,820,000 after acquiring an additional 5,281 shares during the last quarter. AMF Tjanstepension AB grew its position in shares of Sysco by 185.5% in the third quarter. AMF Tjanstepension AB now owns 31,332 shares of the company’s stock valued at $2,446,000 after purchasing an additional 20,356 shares during the last quarter. Finally, Trust Co of the South increased its stake in shares of Sysco by 85.1% in the third quarter. Trust Co of the South now owns 5,607 shares of the company’s stock worth $438,000 after purchasing an additional 2,578 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the subject of several research reports. Jefferies Financial Group increased their price objective on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Bank of America cut their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Barclays lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley decreased their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Price Performance

Sysco stock traded down $0.22 on Friday, reaching $75.41. The company’s stock had a trading volume of 2,792,314 shares, compared to its average volume of 4,208,693. The business’s fifty day moving average price is $76.65 and its 200 day moving average price is $75.35. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The company has a market cap of $37.07 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.02 and a beta of 1.20. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. During the same quarter in the prior year, the company earned $1.34 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. Equities analysts expect that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.71%. Sysco’s payout ratio is currently 49.76%.

About Sysco

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.