Sysco Co. (NYSE:SYY) Stake Lowered by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. cut its holdings in shares of Sysco Co. (NYSE:SYY) by 6.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,580 shares of the company’s stock after selling 1,024 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Sysco were worth $1,139,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AdvisorNet Financial Inc boosted its position in shares of Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after buying an additional 159 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of Sysco by 74.6% during the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock worth $28,000 after buying an additional 179 shares during the period. Headlands Technologies LLC acquired a new position in shares of Sysco during the fourth quarter worth approximately $34,000. BluePath Capital Management LLC acquired a new position in shares of Sysco during the third quarter worth approximately $38,000. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Sysco during the third quarter worth approximately $40,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the sale, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.58% of the company’s stock.

Sysco Price Performance

Shares of NYSE:SYY remained flat at $77.07 on Friday. The stock had a trading volume of 2,072,280 shares, compared to its average volume of 2,339,761. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The firm has a fifty day simple moving average of $79.16 and a 200 day simple moving average of $74.78. The stock has a market cap of $38.37 billion, a PE ratio of 18.84, a PEG ratio of 1.57 and a beta of 1.15. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The company had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.32 billion. During the same period in the previous year, the business earned $0.80 EPS. The company’s revenue was up 3.7% on a year-over-year basis. As a group, analysts expect that Sysco Co. will post 4.3 EPS for the current year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.51 per share. This is an increase from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a yield of 2.65%. The ex-dividend date is Friday, July 5th. Sysco’s payout ratio is 48.90%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. upped their target price on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Stephens upped their target price on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. BMO Capital Markets upped their target price on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Finally, Barclays upped their target price on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.38.

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.