Fiduciary Trust Co Sells 14,575 Shares of Sysco Co. (NYSE:SYY)

Fiduciary Trust Co lessened its holdings in shares of Sysco Co. (NYSE:SYY) by 18.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,299 shares of the company’s stock after selling 14,575 shares during the quarter. Fiduciary Trust Co’s holdings in Sysco were worth $5,175,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. National Pension Service raised its holdings in shares of Sysco by 15.6% during the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after acquiring an additional 166,798 shares in the last quarter. New England Asset Management Inc. raised its holdings in shares of Sysco by 12.7% during the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after acquiring an additional 14,810 shares in the last quarter. ORG Partners LLC raised its holdings in Sysco by 3,159.0% in the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after purchasing an additional 6,855 shares in the last quarter. Empowered Funds LLC raised its holdings in Sysco by 29.0% in the third quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock worth $6,115,000 after purchasing an additional 17,587 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its holdings in Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after purchasing an additional 672,940 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.3 %

Sysco stock opened at $76.65 on Friday. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The stock has a market capitalization of $37.65 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20. The business’s fifty day moving average is $75.75 and its 200 day moving average is $74.78.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. During the same period last year, the business earned $1.07 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts predict that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.66%. Sysco’s payout ratio is 52.44%.

Insiders Place Their Bets

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction that occurred 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 directly 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 through the SEC website. Also, Director Sheila Talton sold 2,900 shares of the 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 sale, the director now directly owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.