Sysco Co. (NYSE:SYY) Shares Sold by First National Trust Co

First National Trust Co trimmed its position in shares of Sysco Co. (NYSE:SYY) by 22.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 45,140 shares of the company’s stock after selling 12,749 shares during the period. First National Trust Co’s holdings in Sysco were worth $3,301,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wealthfront Advisers LLC grew its holdings in Sysco by 263.4% during the 3rd quarter. Wealthfront Advisers LLC now owns 34,007 shares of the company’s stock valued at $2,246,000 after purchasing an additional 24,650 shares in the last quarter. Professional Advisory Services Inc. bought a new position in Sysco during the 4th quarter valued at $20,057,000. Harbour Trust & Investment Management Co bought a new position in Sysco during the 4th quarter valued at $4,623,000. Pacer Advisors Inc. boosted its stake in Sysco by 40.1% during the 4th quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock valued at $6,014,000 after acquiring an additional 23,558 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Sysco by 16.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock valued at $21,865,000 after acquiring an additional 41,618 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on SYY. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. increased their price objective on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Barclays increased their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Stephens raised their price target on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Finally, BMO Capital Markets raised their price target on shares of Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.56.

Sysco Stock Performance

NYSE:SYY traded up $1.11 during mid-day trading on Friday, hitting $75.36. The stock had a trading volume of 2,709,679 shares, compared to its average volume of 2,778,819. The stock has a market capitalization of $37.53 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 1.89 and a beta of 1.16. The company has a 50 day simple moving average of $78.65 and a 200-day simple moving average of $75.16. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a current ratio of 1.34, a quick ratio of 0.80 and a debt-to-equity ratio of 5.77.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. The firm had revenue of $19.38 billion for the quarter, compared to the consensus estimate of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. Sysco’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.90 EPS. On average, research analysts expect that Sysco Co. will post 4.31 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, July 5th. This is an increase from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a yield of 2.71%. Sysco’s dividend payout ratio (DPR) is currently 48.78%.

Insider Activity at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.58% of the stock is currently owned by insiders.

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.