Sysco Co. (NYSE:SYY) Stock Position Lowered by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lowered its position in shares of Sysco Co. (NYSE:SYY) by 9.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,701 shares of the company’s stock after selling 8,248 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Sysco were worth $6,221,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. TruNorth Capital Management LLC acquired a new position in shares of Sysco in the 2nd quarter worth approximately $25,000. Armstrong Advisory Group Inc. grew its position in Sysco by 1,240.0% in the third 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 last quarter. Ashton Thomas Securities LLC bought a new position in shares of Sysco in the third quarter valued at $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Sysco during the 3rd quarter worth $31,000. Finally, Focused Wealth Management Inc bought a new stake in shares of Sysco during the 3rd quarter worth $37,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYY has been the subject of several analyst reports. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Jefferies Financial Group lifted their target price on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. upped their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Wells Fargo & Company lowered their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Barclays increased their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Two 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.77.

Insider Activity

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 transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. The trade was a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, the director now directly owns 12,955 shares of the company’s stock, valued at approximately $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. Insiders own 0.54% of the company’s stock.

Sysco Stock Performance

Shares of SYY opened at $75.08 on Friday. The firm 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. The company’s fifty day moving average is $75.70 and its 200-day moving average is $74.74. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89.

Sysco (NYSE:SYY) last posted its 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). The company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. Sysco’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $1.07 earnings per share. Equities analysts expect that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.72%. Sysco’s dividend payout ratio (DPR) 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.