Bar Harbor Wealth Management Sells 1,250 Shares of Sysco Co. (NYSE:SYY)

Bar Harbor Wealth Management lessened its holdings in Sysco Co. (NYSE:SYY) by 1.0% during the 4th quarter, Holdings Channel reports. The firm owned 125,560 shares of the company’s stock after selling 1,250 shares during the period. Bar Harbor Wealth Management’s holdings in Sysco were worth $9,600,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Armstrong Advisory Group Inc. boosted its stake in Sysco by 1,240.0% in the third 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 stake in shares of Sysco during the third quarter worth $26,000. Valley Wealth Managers Inc. bought a new stake in Sysco in the third quarter valued at about $31,000. Focused Wealth Management Inc acquired a new position in Sysco in the third quarter valued at about $37,000. Finally, Canoe Financial LP bought a new position in Sysco during the third quarter worth about $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SYY. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Jefferies Financial Group increased their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Melius initiated coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target for the company. Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. Finally, 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. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $85.93.

Insider Activity

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 83,306 shares of company stock valued at $6,485,050 over the last three months. Insiders own 0.54% of the company’s stock.

Sysco Stock Up 0.2 %

Shares of NYSE SYY traded up $0.12 during mid-day trading on Monday, hitting $73.71. The company had a trading volume of 1,977,251 shares, compared to its average volume of 1,860,717. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The company has a market capitalization of $36.21 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 2.10 and a beta of 1.18. 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 firm has a 50-day simple moving average of $77.02 and a two-hundred day simple moving average of $75.75.

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 company had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. During the same period last year, the firm earned $1.07 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts expect that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.77%. Sysco’s dividend payout ratio is 52.44%.

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.