First National Bank of Mount Dora Trust Investment Services Cuts Stock Position in Sysco Co. (NYSE:SYY)

First National Bank of Mount Dora Trust Investment Services lessened its stake in Sysco Co. (NYSE:SYY) by 5.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,066 shares of the company’s stock after selling 212 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in Sysco were worth $317,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. Capital Research Global Investors increased its holdings in Sysco by 112.8% in the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after acquiring an additional 3,504,740 shares in the last quarter. ProShare Advisors LLC boosted its stake in Sysco by 103.0% during the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after purchasing an additional 2,408,226 shares during the last quarter. Swedbank AB acquired a new stake in Sysco during the 1st quarter worth $178,824,000. Diamond Hill Capital Management Inc. boosted its stake in Sysco by 49.8% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after purchasing an additional 1,997,895 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after purchasing an additional 1,782,180 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.2 %

NYSE SYY traded up $0.14 during trading hours on Monday, reaching $75.17. The company had a trading volume of 416,289 shares, compared to its average volume of 3,157,786. The company has a current ratio of 1.26, a quick ratio of 0.69 and a debt-to-equity ratio of 5.38. The stock has a market capitalization of $36.93 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 1.96 and a beta of 1.20. The stock has a 50-day moving average of $76.19 and a 200 day moving average of $74.73. Sysco Co. has a 1-year low of $66.27 and a 1-year high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The business had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $1.07 earnings per share. As a group, research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.71%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Analysts Set New Price Targets

Several brokerages have issued reports on SYY. JPMorgan Chase & Co. 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 Monday, September 16th. Jefferies Financial Group boosted their price target on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Barclays boosted 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 Wednesday, July 31st. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Finally, Morgan Stanley lowered their price target on shares of 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 equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

Sysco 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.