Smithfield Trust Co Sells 624 Shares of Sysco Co. (NYSE:SYY)

Smithfield Trust Co trimmed its position in shares of Sysco Co. (NYSE:SYY) by 7.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,075 shares of the company’s stock after selling 624 shares during the period. Smithfield Trust Co’s holdings in Sysco were worth $629,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Blackhawk Capital Partners LLC. bought a new position in Sysco during the third quarter valued at $1,134,000. Pacer Advisors Inc. grew its holdings in Sysco by 21.3% during the third quarter. Pacer Advisors Inc. now owns 96,941 shares of the company’s stock valued at $7,567,000 after purchasing an additional 16,997 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Sysco in the third quarter worth $137,900,000. Integrated Investment Consultants LLC bought a new position in shares of Sysco in the third quarter worth $698,000. Finally, John G Ullman & Associates Inc. boosted its holdings in shares of Sysco by 3.4% in the third quarter. John G Ullman & Associates Inc. now owns 70,592 shares of the company’s stock worth $5,510,000 after acquiring an additional 2,300 shares during the period. 83.41% of the stock is owned by institutional investors.

Sysco Trading Up 2.0 %

NYSE SYY opened at $75.08 on Friday. The stock’s 50-day simple moving average is $75.70 and its two-hundred day simple moving average is $74.74. Sysco Co. has a twelve month low of $69.03 and a twelve month 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 capitalization 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 released its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). The company had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.07 EPS. Research analysts forecast that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.72%. Sysco’s dividend payout ratio is currently 52.44%.

Wall Street Analysts Forecast Growth

SYY has been the subject of a number of analyst reports. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Jefferies Financial Group raised their price target on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Wells Fargo & Company cut their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Barclays lifted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $85.77.

Insider Transactions at Sysco

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

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.