Sysco Co. (NYSE:SYY) Shares Sold by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. lessened its holdings in Sysco Co. (NYSE:SYY) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,580 shares of the company’s stock after selling 1,024 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Sysco were worth $1,139,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. lifted its stake in Sysco by 11.0% during the 3rd quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock worth $717,283,000 after acquiring an additional 1,076,287 shares in the last quarter. Northern Trust Corp lifted its stake in Sysco by 3.0% during the 3rd quarter. Northern Trust Corp now owns 6,138,310 shares of the company’s stock worth $405,435,000 after acquiring an additional 178,464 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Sysco by 4.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,651,746 shares of the company’s stock worth $373,298,000 after acquiring an additional 265,621 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Sysco by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,738,940 shares of the company’s stock worth $180,907,000 after acquiring an additional 21,700 shares in the last quarter. Finally, Clarkston Capital Partners LLC increased its holdings in Sysco by 0.4% during the 3rd quarter. Clarkston Capital Partners LLC now owns 2,320,060 shares of the company’s stock worth $153,240,000 after purchasing an additional 9,385 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Activity

In related news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SYY. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Barclays upped their price target on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. BMO Capital Markets upped their price target on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Stephens upped their price target on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. increased their price objective on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. One analyst has rated the stock with a hold rating and seven 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 target price of $85.38.

Sysco Stock Performance

Sysco stock remained flat at $77.07 during mid-day trading on Friday. The company’s stock had a trading volume of 2,072,280 shares, compared to its average volume of 2,339,761. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The stock has a fifty day moving average price of $79.16 and a 200-day moving average price of $74.78. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00. The stock has a market capitalization of $38.37 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.57 and a beta of 1.15.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $19.29 billion during the quarter, compared to analysts’ expectations of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $0.80 EPS. As a group, equities research analysts anticipate that Sysco Co. will post 4.3 EPS for the current year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be issued a $0.51 dividend. This is a boost from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio (DPR) is currently 48.90%.

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.