HM Payson & Co. Has $2.26 Million Stake in SYSCO Co. (SYY)

HM Payson & Co. cut its stake in SYSCO Co. (NYSE:SYY) by 6.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,888 shares of the company’s stock after selling 2,150 shares during the period. HM Payson & Co.’s holdings in SYSCO were worth $2,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Quad Cities Investment Group LLC purchased a new stake in shares of SYSCO in the second quarter valued at approximately $111,000. Flagship Harbor Advisors LLC purchased a new stake in shares of SYSCO in the second quarter valued at approximately $121,000. Daiwa SB Investments Ltd. purchased a new stake in shares of SYSCO in the third quarter valued at approximately $132,000. Fort L.P. purchased a new stake in shares of SYSCO in the second quarter valued at approximately $123,000. Finally, Security National Trust Co. grew its position in shares of SYSCO by 110.0% in the third quarter. Security National Trust Co. now owns 2,100 shares of the company’s stock valued at $154,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

In other news, Director Trian Fund Management, L.P. sold 2,115,358 shares of the firm’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $74.81, for a total transaction of $158,249,931.98. Following the completion of the transaction, the director now directly owns 4,005 shares in the company, valued at $299,614.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Joshua D. Frank sold 1,013,666 shares of the firm’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $75.09, for a total value of $76,116,179.94. Following the transaction, the director now owns 4,005 shares of the company’s stock, valued at $300,735.45. The disclosure for this sale can be found here. Insiders sold 7,700,671 shares of company stock valued at $545,256,301 over the last quarter. 7.88% of the stock is currently owned by company insiders.

A number of research firms have recently issued reports on SYY. Zacks Investment Research upgraded SYSCO from a “sell” rating to a “hold” rating in a research report on Friday. BMO Capital Markets upped their price target on SYSCO from $74.00 to $81.00 and gave the company an “outperform” rating in a research report on Tuesday, August 14th. Credit Suisse Group dropped their price target on SYSCO from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, November 6th. Morgan Stanley dropped their price target on SYSCO from $71.00 to $69.00 and set a “hold” rating for the company in a research report on Tuesday, November 6th. Finally, Loop Capital increased their price objective on SYSCO to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $73.54.

Shares of SYSCO stock opened at $67.40 on Friday. The company has a market capitalization of $35.11 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 1.91 and a beta of 0.56. SYSCO Co. has a fifty-two week low of $56.01 and a fifty-two week high of $75.98. The company has a quick ratio of 0.80, a current ratio of 1.30 and a debt-to-equity ratio of 3.00.

SYSCO (NYSE:SYY) last issued its quarterly earnings data on Monday, November 5th. The company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.01). The business had revenue of $15.22 billion during the quarter, compared to analysts’ expectations of $15.39 billion. SYSCO had a return on equity of 68.81% and a net margin of 2.52%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 earnings per share. Equities research analysts predict that SYSCO Co. will post 3.4 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 25th. Investors of record on Friday, January 4th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.31%. This is a positive change from SYSCO’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, January 3rd. SYSCO’s dividend payout ratio is presently 45.86%.

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SYSCO Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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