Sysco Co. (NYSE:SYY) Position Lowered by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its stake in shares of Sysco Co. (NYSE:SYY) by 3.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 265,559 shares of the company’s stock after selling 8,206 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Sysco were worth $20,730,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Benjamin Edwards Inc. lifted its holdings in Sysco by 109.0% in the third quarter. Benjamin Edwards Inc. now owns 14,965 shares of the company’s stock worth $1,170,000 after acquiring an additional 7,806 shares during the last quarter. Atom Investors LP bought a new position in Sysco in the third quarter worth about $2,726,000. FSA Wealth Management LLC bought a new position in Sysco in the third quarter worth about $78,000. B&L Asset Management LLC bought a new position in Sysco in the third quarter worth about $514,000. Finally, Morton Community Bank lifted its holdings in Sysco by 1.2% in the third quarter. Morton Community Bank now owns 40,440 shares of the company’s stock worth $3,157,000 after acquiring an additional 475 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

NYSE SYY opened at $79.53 on Wednesday. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The firm has a market capitalization of $39.07 billion, a PE ratio of 20.44, a P/E/G ratio of 2.00 and a beta of 1.19. The company’s 50 day simple moving average is $75.85 and its 200 day simple moving average is $74.80.

Sysco (NYSE:SYY) last posted its quarterly earnings results 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). The business had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 EPS. As a group, equities research analysts forecast that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The company 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 $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Friday, January 3rd. Sysco’s dividend payout ratio is 52.44%.

Insider Buying and Selling

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 transaction of $216,427.00. Following the sale, the director now directly 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 disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SYY. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. 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 research note on Wednesday, September 25th. JPMorgan Chase & Co. raised their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company dropped their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.77.

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.