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

Equitable Trust Co. trimmed its position in Sysco Co. (NYSE:SYY) by 3.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 34,364 shares of the company’s stock after selling 1,045 shares during the quarter. Equitable Trust Co.’s holdings in Sysco were worth $2,682,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Sysco by 43.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 62,295 shares of the company’s stock valued at $5,057,000 after buying an additional 18,749 shares in the last quarter. Quantbot Technologies LP bought a new position in Sysco in the 1st quarter valued at about $1,027,000. Oppenheimer & Co. Inc. boosted its stake in Sysco by 5.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 46,322 shares of the company’s stock valued at $3,760,000 after purchasing an additional 2,447 shares during the last quarter. Montag A & Associates Inc. increased its holdings in Sysco by 30.6% during the 1st quarter. Montag A & Associates Inc. now owns 7,616 shares of the company’s stock worth $618,000 after purchasing an additional 1,783 shares in the last quarter. Finally, Atomi Financial Group Inc. raised its stake in shares of Sysco by 87.7% in the first quarter. Atomi Financial Group Inc. now owns 5,693 shares of the company’s stock worth $462,000 after purchasing an additional 2,660 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Price Performance

Sysco stock opened at $77.39 on Friday. 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 business’s 50 day simple moving average is $76.14 and its 200 day simple moving average is $74.76. Sysco Co. has a 12 month low of $66.27 and a 12 month high of $82.89. The company 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.

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

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Friday, October 4th. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SYY shares. Morgan Stanley cut their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Jefferies Financial Group lifted 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. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Bank of America cut their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, Wells Fargo & Company decreased their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average price target of $85.77.

Insider Buying and Selling

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction on Friday, November 1st. The shares were 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 of the company’s stock, valued at $3,638,670.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.54% of the stock is 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.