Zurcher Kantonalbank Zurich Cantonalbank Sells 2,194 Shares of Sysco Co. (NYSE:SYY)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in Sysco Co. (NYSE:SYY) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,697 shares of the company’s stock after selling 2,194 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sysco were worth $7,626,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Armstrong Advisory Group Inc. grew 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 worth $26,000 after purchasing an additional 310 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco in the 3rd quarter worth $26,000. TruNorth Capital Management LLC bought a new position in shares of Sysco during the 2nd quarter worth $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Sysco during the third quarter valued at $31,000. Finally, Focused Wealth Management Inc bought a new stake in shares of Sysco in the third quarter valued at about $37,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SYY. Jefferies Financial Group increased their target price on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. 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. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. lifted their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $85.77.

Insiders Place Their Bets

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total value 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. This trade represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction that occurred 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 approximately $966,831.65. This represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by insiders.

Sysco Price Performance

Shares of NYSE SYY opened at $77.11 on Monday. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The company has a market cap of $37.88 billion, a PE ratio of 19.82, a P/E/G ratio of 2.03 and a beta of 1.20. 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 simple moving average of $75.78 and a two-hundred day simple moving average of $74.77.

Sysco (NYSE:SYY) last released 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). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. During the same quarter last year, the business earned $1.07 earnings per share. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities analysts expect that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be paid a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.65%. Sysco’s dividend payout ratio (DPR) is 52.44%.

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.