Royal Fund Management LLC Sells 32,333 Shares of Sysco Co. (NYSE:SYY)

Royal Fund Management LLC reduced its stake in shares of Sysco Co. (NYSE:SYY) by 45.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 38,945 shares of the company’s stock after selling 32,333 shares during the period. Royal Fund Management LLC’s holdings in Sysco were worth $3,009,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of SYY. Armstrong Advisory Group Inc. raised its position in 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 buying an additional 310 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco in the third quarter valued at about $26,000. Valley Wealth Managers Inc. bought a new position in shares of Sysco during the third quarter valued at about $31,000. Focused Wealth Management Inc purchased a new position in Sysco during the third quarter worth about $37,000. Finally, Fairscale Capital LLC bought a new stake in Sysco in the 2nd quarter worth about $38,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

NYSE:SYY opened at $73.02 on Tuesday. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.89. The business’s fifty day moving average is $76.72 and its 200 day moving average is $75.85. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The firm has a market cap of $35.87 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 2.03 and a beta of 1.18.

Sysco (NYSE:SYY) last announced 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 firm had revenue of $20.48 billion during 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 company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 earnings per share. Research analysts predict that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is 52.44%.

Analyst Upgrades and Downgrades

SYY has been the topic of several recent analyst reports. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, January 13th. Wells Fargo & Company decreased their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Melius started coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. Finally, Jefferies Financial Group raised their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $85.93.

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction 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 sale, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. This trade represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,306 shares of company stock worth $6,485,050 over the last three months. 0.54% of the stock is owned by insiders.

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.