Camden National Bank Purchases New Position in Sysco Co. (NYSE:SYY)

Camden National Bank acquired a new position in shares of Sysco Co. (NYSE:SYY) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,609 shares of the company’s stock, valued at approximately $282,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. TruNorth Capital Management LLC bought a new stake in shares of Sysco in the second quarter valued at about $25,000. Armstrong Advisory Group Inc. raised its holdings in shares of 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 purchasing an additional 310 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco in the 3rd quarter worth approximately $26,000. Valley Wealth Managers Inc. bought a new position in shares of Sysco during the third quarter valued at approximately $31,000. Finally, Focused Wealth Management Inc purchased a new position in Sysco during the third quarter valued at approximately $37,000. 83.41% of the stock is owned by institutional investors.

Sysco Trading Up 0.9 %

Sysco stock opened at $75.79 on Friday. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89. The stock has a 50-day moving average price of $75.69 and a 200 day moving average price of $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. The company has a market capitalization of $37.23 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 1.97 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). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. During the same period last year, the company earned $1.07 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. Sell-side analysts anticipate that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The business 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 dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.69%. Sysco’s payout ratio is currently 52.44%.

Insider Activity

In other news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred 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 transaction, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. The trade was a 18.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. This trade represents a 7.69 % 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.

Wall Street Analyst Weigh In

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