Hemenway Trust Co LLC Has $233,000 Position in Sysco Co. (NYSE:SYY)

Hemenway Trust Co LLC cut its position in Sysco Co. (NYSE:SYY) by 16.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,990 shares of the company’s stock after selling 572 shares during the quarter. Hemenway Trust Co LLC’s holdings in Sysco were worth $233,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. National Pension Service grew its position in shares of Sysco by 15.6% in the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after purchasing an additional 166,798 shares during the period. ORG Partners LLC increased its position in shares of Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after acquiring an additional 6,855 shares in the last quarter. Mizuho Markets Americas LLC raised its holdings in shares of Sysco by 102.1% during the first quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after acquiring an additional 70,660 shares during the period. Wedge Capital Management L L P NC lifted its position in Sysco by 11.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock valued at $12,577,000 after acquiring an additional 18,296 shares in the last quarter. Finally, Shell Asset Management Co. boosted its stake in Sysco by 205.0% in the 1st quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock worth $1,161,000 after purchasing an additional 9,615 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYY has been the topic of a number of research reports. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Wells Fargo & Company reduced their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Morgan Stanley decreased their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. JPMorgan Chase & Co. boosted their price objective 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. Finally, Jefferies Financial Group raised their target price on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.77.

Insider Buying and Selling

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is currently owned by company insiders.

Sysco Stock Performance

Shares of SYY traded down $0.26 during mid-day trading on Tuesday, hitting $77.68. 71,954 shares of the company’s stock were exchanged, compared to its average volume of 3,153,084. 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 firm has a market cap of $38.16 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The stock’s 50-day simple moving average is $76.14 and its 200-day simple moving average is $74.73. Sysco Co. has a 52 week low of $66.87 and a 52 week high of $82.89.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. During the same quarter in the previous year, the company posted $1.07 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts expect that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Friday, October 4th. Sysco’s payout ratio is presently 52.44%.

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.