First National Bank of Mount Dora Trust Investment Services Cuts Position in Sysco Co. (NYSE:SYY)

First National Bank of Mount Dora Trust Investment Services trimmed its position in shares of Sysco Co. (NYSE:SYY) by 5.0% during the third quarter, Holdings Channel reports. The institutional investor owned 4,066 shares of the company’s stock after selling 212 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in Sysco were worth $317,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SYY. TruNorth Capital Management LLC purchased a new position in Sysco in the second quarter valued at approximately $25,000. Armstrong Advisory Group Inc. increased its stake in 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 purchasing an additional 310 shares during the last quarter. Fairscale Capital LLC purchased a new position in Sysco in the second quarter valued at approximately $38,000. Canoe Financial LP purchased a new position in Sysco in the third quarter valued at approximately $38,000. Finally, LRI Investments LLC purchased a new position in Sysco in the first quarter valued at approximately $45,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. 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. JPMorgan Chase & Co. increased 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. Morgan Stanley decreased their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Jefferies Financial Group increased their price objective on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average price target of $85.77.

Sysco Stock Performance

Shares of NYSE SYY traded up $0.14 during mid-day trading on Monday, hitting $75.17. 416,289 shares of the company were exchanged, compared to its average volume of 3,157,786. The company has a quick ratio of 0.69, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The stock has a 50 day simple moving average of $76.19 and a 200-day simple moving average of $74.73. Sysco Co. has a 1-year low of $66.27 and a 1-year high of $82.89. The firm has a market cap of $36.93 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 1.96 and a beta of 1.20.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. During the same period in the prior year, the business earned $1.07 earnings per share. Sysco’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, sell-side analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend was Friday, October 4th. Sysco’s payout ratio is 52.44%.

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.