Hemenway Trust Co LLC Sells 572 Shares of Sysco Co. (NYSE:SYY)

Hemenway Trust Co LLC trimmed its stake in Sysco Co. (NYSE:SYY) by 16.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,990 shares of the company’s stock after selling 572 shares during the period. Hemenway Trust Co LLC’s holdings in Sysco were worth $233,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Armstrong Advisory Group Inc. increased its position in Sysco by 1,240.0% in 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 during the period. Ashton Thomas Securities LLC bought a new position in Sysco in the 3rd quarter worth approximately $26,000. TruNorth Capital Management LLC bought a new position in Sysco in the 2nd quarter worth approximately $25,000. Focused Wealth Management Inc bought a new position in Sysco in the 3rd quarter worth approximately $37,000. Finally, Canoe Financial LP bought a new position in Sysco in the 3rd quarter worth approximately $38,000. 83.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on SYY shares. Bank of America dropped their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Barclays boosted their price objective on 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 boosted their price objective on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, Morgan Stanley lowered their price objective 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. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus price target of $85.77.

Insiders Place Their Bets

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

Sysco Price Performance

Shares of NYSE SYY traded down $0.26 during mid-day trading on Tuesday, hitting $77.68. 71,954 shares of the stock were exchanged, compared to its average volume of 3,153,084. Sysco Co. has a twelve month low of $66.87 and a twelve month high of $82.89. The stock’s fifty day simple moving average is $76.14 and its two-hundred day simple moving average is $74.73. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The company has a market cap of $38.16 billion, a P/E ratio of 20.04, a PEG ratio of 2.03 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS 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 analyst estimates of $20.47 billion. During the same period in the prior year, the firm posted $1.07 EPS. Sysco’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, 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 was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Friday, October 4th. Sysco’s payout ratio is presently 52.44%.

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.