Sysco Co. (NYSE:SYY) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. reduced its holdings in Sysco Co. (NYSE:SYY) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,183 shares of the company’s stock after selling 3,156 shares during the quarter. Raymond James Trust N.A.’s holdings in Sysco were worth $7,586,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in SYY. TruNorth Capital Management LLC purchased a new position in shares of Sysco during the 2nd quarter worth about $25,000. Armstrong Advisory Group Inc. boosted its holdings in shares of Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco during the 3rd quarter valued at $26,000. Valley Wealth Managers Inc. purchased a new stake in shares of Sysco during the 3rd quarter valued at $31,000. Finally, Focused Wealth Management Inc acquired a new stake in shares of Sysco during the 3rd quarter worth $37,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This represents a 7.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction on 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 directly owns 12,955 shares in the company, valued at $966,831.65. The trade was a 18.29 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SYY. JPMorgan Chase & Co. lifted their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Wells Fargo & Company decreased their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Jefferies Financial Group raised their price target on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Barclays boosted their price objective 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, StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and a consensus target price of $85.77.

Sysco Stock Up 2.0 %

Shares of Sysco stock opened at $75.08 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The business has a 50-day moving average price of $75.70 and a 200 day moving average price of $74.74. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The firm has a market cap of $36.88 billion, a P/E ratio of 19.30, a P/E/G ratio of 1.95 and a beta of 1.20.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the business earned $1.07 earnings per share. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, sell-side analysts forecast that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.72%. Sysco’s payout ratio is currently 52.44%.

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.