Harbour Trust & Investment Management Co Sells 811 Shares of Sysco Co. (NYSE:SYY)

Harbour Trust & Investment Management Co cut its stake in shares of Sysco Co. (NYSE:SYY) by 1.3% in the third quarter, Holdings Channel reports. The firm owned 61,874 shares of the company’s stock after selling 811 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Sysco were worth $4,830,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Global Assets Advisory LLC bought a new stake in shares of Sysco in the 1st quarter valued at about $1,145,000. Wealthcare Advisory Partners LLC raised its holdings in Sysco by 5.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 10,314 shares of the company’s stock worth $837,000 after purchasing an additional 559 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Sysco by 3.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 160,434 shares of the company’s stock worth $13,024,000 after purchasing an additional 4,709 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in shares of Sysco in the 1st quarter valued at $518,000. Finally, Courier Capital LLC acquired a new position in Sysco in the first quarter valued at about $214,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of NYSE SYY opened at $74.37 on Friday. Sysco Co. has a 52 week low of $64.28 and a 52 week high of $82.89. The stock has a market capitalization of $36.53 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 1.95 and a beta of 1.20. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The stock has a 50 day moving average price of $76.51 and a 200 day moving average price of $74.82.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. During the same period in the previous year, the company earned $1.34 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts predict that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of research analyst reports. Morgan Stanley cut their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Jefferies Financial Group lifted 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. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday. Bank of America lowered their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Finally, Barclays boosted their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $86.08.

Sysco Company 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.