Citizens Financial Group Inc. RI Has $6.22 Million Position in Sysco Co. (NYSE:SYY)

Citizens Financial Group Inc. RI lowered its holdings in shares of Sysco Co. (NYSE:SYY) by 9.4% during the third quarter, HoldingsChannel reports. The firm owned 79,701 shares of the company’s stock after selling 8,248 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Sysco were worth $6,221,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SYY. TruNorth Capital Management LLC bought a new position in shares of Sysco during the 2nd quarter worth approximately $25,000. Armstrong Advisory Group Inc. raised its holdings in shares of 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 purchasing an additional 310 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Sysco during the 3rd quarter worth approximately $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Sysco in the third quarter valued at $31,000. Finally, Focused Wealth Management Inc bought a new position in Sysco in the 3rd quarter valued at about $37,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction dated Friday, November 1st. The stock was 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 of the company’s stock, valued at approximately $3,638,670.10. The trade was a 7.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value 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 approximately $966,831.65. The trade was a 18.29 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SYY. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. JPMorgan Chase & Co. boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Barclays lifted 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. Jefferies Financial Group lifted their price objective on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company dropped their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $85.77.

Sysco Price Performance

SYY stock opened at $75.08 on Friday. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The stock has a market cap of $36.88 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 1.95 and a beta of 1.20. The company has a 50 day simple moving average of $75.70 and a 200 day simple moving average of $74.74.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 EPS 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 firm had revenue of $20.48 billion during 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 firm’s revenue was up 4.4% on a year-over-year basis. Research analysts anticipate that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.72%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

About Sysco

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.