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

Fiduciary Trust Co decreased its stake in Sysco Co. (NYSE:SYY) by 18.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYY. LRI Investments LLC purchased a new position in shares of Sysco in the 1st quarter worth approximately $48,000. Burney Co. boosted its holdings in shares of Sysco by 16.5% in the 1st quarter. Burney Co. now owns 22,922 shares of the company’s stock worth $1,861,000 after purchasing an additional 3,253 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Sysco by 163.4% in the 1st quarter. Cetera Investment Advisers now owns 285,012 shares of the company’s stock worth $23,137,000 after purchasing an additional 176,791 shares during the period. Cetera Advisors LLC boosted its holdings in shares of Sysco by 177.6% in the 1st quarter. Cetera Advisors LLC now owns 73,682 shares of the company’s stock worth $5,982,000 after purchasing an additional 47,142 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Sysco by 23.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,252 shares of the company’s stock worth $167,000 after acquiring an additional 428 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

SYY stock opened at $76.65 on Friday. The firm 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. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The business has a 50 day simple moving average of $75.75 and a 200-day simple moving average of $74.78.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The business had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. Sysco’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 earnings per share. Equities research analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

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

Insider Buying and Selling

In other news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. The trade was a 18.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $3,638,670.10. The trade was a 7.69 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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