Meeder Advisory Services Inc. Trims Stock Position in Sysco Co. (NYSE:SYY)

Meeder Advisory Services Inc. decreased its holdings in Sysco Co. (NYSE:SYY) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,544 shares of the company’s stock after selling 283 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Sysco were worth $745,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Intech Investment Management LLC acquired a new stake in shares of Sysco during the 1st quarter worth $250,000. Edgestream Partners L.P. purchased a new position in shares of Sysco in the 1st quarter worth about $489,000. Covestor Ltd lifted its stake in shares of Sysco by 323.2% in the 1st quarter. Covestor Ltd now owns 1,151 shares of the company’s stock valued at $93,000 after purchasing an additional 879 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Sysco by 87.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 62,063 shares of the company’s stock worth $5,038,000 after purchasing an additional 29,009 shares during the period. Finally, UniSuper Management Pty Ltd increased its position in Sysco by 301.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 18,046 shares of the company’s stock worth $1,465,000 after purchasing an additional 13,546 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of Sysco stock opened at $74.40 on Wednesday. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The firm’s 50-day simple moving average is $75.79 and its 200-day simple moving average is $74.75. The firm has a market cap of $36.55 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20.

Sysco (NYSE:SYY) last released its 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). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. During the same period in the prior year, the business earned $1.07 EPS. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Equities analysts forecast that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.74%. Sysco’s payout ratio is 52.44%.

Wall Street Analyst Weigh In

SYY has been the subject of several research reports. Wells Fargo & Company decreased their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. increased their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Barclays upped their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.77.

Insiders Place Their Bets

In related news, Director Sheila Talton sold 2,900 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the sale, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. This trade represents a 18.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. The trade was a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

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.