First National Trust Co Sells 3,949 Shares of Sysco Co. (NYSE:SYY)

First National Trust Co reduced its position in Sysco Co. (NYSE:SYY) by 9.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,136 shares of the company’s stock after selling 3,949 shares during the period. First National Trust Co’s holdings in Sysco were worth $2,821,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SYY. Armstrong Advisory Group Inc. raised its holdings in shares of Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after acquiring an additional 310 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Sysco during the 3rd quarter worth approximately $26,000. TruNorth Capital Management LLC purchased a new stake in shares of Sysco in the second quarter worth approximately $25,000. Focused Wealth Management Inc purchased a new position in shares of Sysco during the third quarter valued at approximately $37,000. Finally, Canoe Financial LP bought a new stake in Sysco during the third quarter worth $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley dropped their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Jefferies Financial Group upped their target price on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Bank of America dropped their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.77.

Sysco Trading Down 0.8 %

Shares of SYY opened at $77.29 on Wednesday. The firm has a market cap of $37.97 billion, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 2.05 and a beta of 1.20. Sysco Co. has a fifty-two week low of $66.87 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The business has a 50-day moving average of $76.14 and a 200 day moving average of $74.73.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (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 during the quarter, compared to the consensus estimate of $20.47 billion. During the same period last year, the firm earned $1.07 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, research analysts forecast that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were given a $0.51 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.64%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Insider Activity at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is owned by corporate insiders.

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.