First Horizon Advisors Inc. Raises Stock Position in Sysco Co. (NYSE:SYY)

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

Several other institutional investors have also modified their holdings of SYY. TruNorth Capital Management LLC purchased a new stake in shares of Sysco during the second quarter worth $25,000. Armstrong Advisory Group Inc. raised its holdings in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Sysco during the 3rd quarter worth approximately $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sysco in the third quarter valued at approximately $31,000. Finally, Focused Wealth Management Inc purchased a new position in Sysco during the third quarter worth approximately $37,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction dated 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 transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. The trade was a 7.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This 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 insiders.

Sysco Stock Performance

Sysco stock opened at $75.08 on Friday. The company has a market cap of $36.88 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.95 and a beta of 1.20. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The stock’s 50-day moving average is $75.70 and its 200-day moving average is $74.74.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (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 analyst estimates of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 earnings per share. Equities analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

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

Analysts Set New Price Targets

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

About Sysco

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.