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

First National Trust Co decreased its position in Sysco Co. (NYSE:SYY) by 9.9% during the 3rd quarter, Holdings Channel reports. The firm 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.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Plimoth Trust Co. LLC raised its stake in shares of Sysco by 0.6% during the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after acquiring an additional 139 shares during the last quarter. Koshinski Asset Management Inc. lifted its position in shares of Sysco by 3.1% in the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after purchasing an additional 146 shares during the period. Powers Advisory Group LLC boosted its stake in shares of Sysco by 1.6% during the 2nd quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock valued at $682,000 after purchasing an additional 149 shares in the last quarter. Arrow Financial Corp increased its position in shares of Sysco by 0.8% during the second quarter. Arrow Financial Corp now owns 19,993 shares of the company’s stock valued at $1,427,000 after buying an additional 155 shares during the period. Finally, KCM Investment Advisors LLC lifted its holdings in Sysco by 1.5% in the second quarter. KCM Investment Advisors LLC now owns 10,911 shares of the company’s stock worth $779,000 after buying an additional 161 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SYY has been the topic of a number of research analyst reports. Bank of America reduced their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. 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. Wells Fargo & Company dropped their target price 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. increased their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, Jefferies Financial Group upped their price objective on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.77.

Sysco Price Performance

Shares of NYSE:SYY opened at $77.29 on Wednesday. The business has a 50-day simple moving average of $76.14 and a two-hundred day simple moving average of $74.73. 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 firm has a market cap of $37.97 billion, a price-to-earnings 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.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The company had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the firm posted $1.07 EPS. On average, analysts expect that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Friday, October 4th. Sysco’s dividend payout ratio is 52.44%.

Insiders Place Their Bets

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

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.