Bar Harbor Wealth Management Has $9.60 Million Stake in Sysco Co. (NYSE:SYY)

Bar Harbor Wealth Management lowered its position in Sysco Co. (NYSE:SYY) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 125,560 shares of the company’s stock after selling 1,250 shares during the period. Bar Harbor Wealth Management’s holdings in Sysco were worth $9,600,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. raised its holdings in shares of Sysco by 1,240.0% during 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 in the last quarter. Ashton Thomas Securities LLC acquired a new position in Sysco during the third quarter worth $26,000. Valley Wealth Managers Inc. bought a new position in Sysco during the third quarter valued at about $31,000. Focused Wealth Management Inc acquired a new stake in shares of Sysco in the third quarter worth about $37,000. Finally, Fairscale Capital LLC bought a new stake in shares of Sysco during the 2nd quarter worth about $38,000. Institutional investors own 83.41% of the company’s stock.

Insiders Place Their Bets

In other Sysco news, EVP Greg D. Bertrand sold 21,844 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the completion of the sale, the executive vice president now owns 60,581 shares in the company, valued at approximately $4,846,480. This trade represents a 26.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now owns 12,955 shares in the company, valued at $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,306 shares of company stock valued at $6,485,050. 0.54% of the stock is currently owned by insiders.

Sysco Price Performance

NYSE:SYY traded up $0.12 during mid-day trading on Monday, hitting $73.71. The company’s stock had a trading volume of 1,977,251 shares, compared to its average volume of 1,860,717. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The stock has a fifty day moving average of $77.02 and a 200-day moving average of $75.75. The company has a market capitalization of $36.21 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 2.10 and a beta of 1.18. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $20.47 billion. During the same period in the prior year, the firm earned $1.07 EPS. Sysco’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts forecast that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio is currently 52.44%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SYY shares. Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. Melius started coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Jefferies Financial Group raised their target price on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Wells Fargo & Company cut their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.93.

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.