Hanson & Doremus Investment Management Sells 450 Shares of Sysco Co. (NYSE:SYY)

Hanson & Doremus Investment Management reduced its position in shares of Sysco Co. (NYSE:SYY) by 27.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,208 shares of the company’s stock after selling 450 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Sysco were worth $92,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. raised its stake in shares of Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after buying an additional 310 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Sysco during the 3rd quarter valued at $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Sysco in the 3rd quarter valued at $31,000. Focused Wealth Management Inc bought a new position in shares of Sysco in the 3rd quarter worth $37,000. Finally, Canoe Financial LP acquired a new stake in shares of Sysco during the third quarter worth $38,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of the 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 completion of the sale, the director now owns 12,955 shares in the company, valued at $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Greg D. Bertrand sold 21,844 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the transaction, the executive vice president now owns 60,581 shares in the company, valued at $4,846,480. This represents a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,270 shares of company stock worth $6,181,946 in the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Sysco Trading Up 2.0 %

NYSE:SYY opened at $73.33 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89. The company has a market cap of $36.02 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 1.96 and a beta of 1.18. The business has a 50 day moving average price of $76.40 and a two-hundred day moving average price of $76.00.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the prior year, the company earned $0.89 earnings per share. As a group, analysts expect that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is 52.44%.

Analyst Ratings Changes

Several equities analysts have weighed in on SYY shares. Jefferies Financial Group increased their target price on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. UBS Group cut their target price on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday. Morgan Stanley decreased their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company lowered 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. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.21.

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.