Equitable Trust Co. Sells 1,045 Shares of Sysco Co. (NYSE:SYY)

Equitable Trust Co. lowered its holdings in Sysco Co. (NYSE:SYY) by 3.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,364 shares of the company’s stock after selling 1,045 shares during the period. Equitable Trust Co.’s holdings in Sysco were worth $2,682,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. National Pension Service lifted its position in Sysco by 15.6% during the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after purchasing an additional 166,798 shares during the period. ORG Partners LLC lifted its holdings in shares of Sysco by 3,159.0% during the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after acquiring an additional 6,855 shares during the period. Mizuho Markets Americas LLC boosted its position in shares of Sysco by 102.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after acquiring an additional 70,660 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in Sysco by 11.6% in the second quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock valued at $12,577,000 after acquiring an additional 18,296 shares during the last quarter. Finally, Shell Asset Management Co. raised its position in Sysco by 205.0% during the first quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock valued at $1,161,000 after purchasing an additional 9,615 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SYY shares. Barclays lifted their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com downgraded 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 shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. increased their price objective 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. Finally, Bank of America decreased their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

Insiders Place Their Bets

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the sale, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.54% of the company’s stock.

Sysco Trading Up 0.7 %

Shares of SYY stock opened at $77.39 on Friday. Sysco Co. has a 1-year low of $66.27 and a 1-year high of $82.89. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The stock has a market cap of $38.02 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 2.02 and a beta of 1.20. The stock has a 50-day moving average of $76.14 and a 200-day moving average of $74.76.

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

Sysco Dividend Announcement

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