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

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

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

Sysco Price Performance

Shares of NYSE:SYY opened at $75.08 on Friday. The firm has a market capitalization of $36.88 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.95 and a beta of 1.20. 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 business’s 50 day simple moving average is $75.70 and its 200-day simple moving average is $74.74. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89.

Sysco (NYSE:SYY) last posted 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 analysts’ expectations of $20.47 billion. During the same quarter in the previous year, the firm posted $1.07 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities analysts forecast that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

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 issued a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.72%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

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

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.