First Horizon Advisors Inc. Buys 349 Shares of Sysco Co. (NYSE:SYY)

First Horizon Advisors Inc. raised its position in Sysco Co. (NYSE:SYY) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,064 shares of the company’s stock after purchasing an additional 349 shares during the quarter. First Horizon Advisors Inc.’s holdings in Sysco were worth $1,020,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. TruNorth Capital Management LLC bought a new stake in shares of Sysco in the second quarter worth $25,000. Armstrong Advisory Group Inc. lifted its position in Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after buying an additional 310 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Sysco in the 3rd quarter valued at about $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sysco in the third quarter valued at about $31,000. Finally, Focused Wealth Management Inc acquired a new position in Sysco during the third quarter valued at approximately $37,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Up 2.0 %

Shares of NYSE SYY opened at $75.08 on Friday. The firm’s fifty day moving average is $75.70 and its 200 day moving average is $74.74. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The company has a market cap of $36.88 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 1.95 and a beta of 1.20.

Sysco (NYSE:SYY) last issued its quarterly earnings data 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 return on equity of 101.04% and a net margin of 2.44%. The business had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. During the same quarter in the prior year, the business posted $1.07 earnings per share. Sysco’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts expect that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 2.72%. Sysco’s payout ratio is 52.44%.

Insiders Place Their Bets

In other news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco 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 owns 48,451 shares of the company’s stock, valued at $3,638,670.10. The trade was a 7.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SYY shares. Barclays lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Jefferies Financial Group upped their price objective on 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. boosted their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Wells Fargo & Company decreased 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. Finally, StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $85.77.

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.