Camden National Bank trimmed its holdings in shares of SYSCO Co. (NYSE:SYY) by 6.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,235 shares of the company’s stock after selling 9,946 shares during the quarter. SYSCO accounts for approximately 2.5% of Camden National Bank’s investment portfolio, making the stock its 12th largest holding. Camden National Bank’s holdings in SYSCO were worth $10,126,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SYY. HL Financial Services LLC raised its holdings in shares of SYSCO by 0.3% in the third quarter. HL Financial Services LLC now owns 227,311 shares of the company’s stock valued at $16,651,000 after acquiring an additional 736 shares in the last quarter. Sumitomo Life Insurance Co. raised its holdings in shares of SYSCO by 4.1% in the second quarter. Sumitomo Life Insurance Co. now owns 19,123 shares of the company’s stock valued at $1,306,000 after acquiring an additional 758 shares in the last quarter. World Asset Management Inc raised its holdings in shares of SYSCO by 2.1% in the second quarter. World Asset Management Inc now owns 38,744 shares of the company’s stock valued at $2,646,000 after acquiring an additional 800 shares in the last quarter. Wendell David Associates Inc. raised its holdings in shares of SYSCO by 0.9% in the third quarter. Wendell David Associates Inc. now owns 89,235 shares of the company’s stock valued at $6,536,000 after acquiring an additional 800 shares in the last quarter. Finally, CIBC World Markets Inc. raised its holdings in shares of SYSCO by 19.7% in the second quarter. CIBC World Markets Inc. now owns 4,876 shares of the company’s stock valued at $333,000 after acquiring an additional 803 shares in the last quarter. Institutional investors and hedge funds own 79.76% of the company’s stock.

In other SYSCO news, Director Joshua D. Frank sold 1,013,666 shares of SYSCO stock in a transaction dated 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 in the company, valued at $300,735.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Trian Fund Management, L.P. sold 2,115,358 shares of SYSCO stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $74.81, for a total value of $158,249,931.98. Following the completion of the transaction, the director now owns 4,005 shares in the company, valued at approximately $299,614.05. The disclosure for this sale can be found here. Insiders sold 3,955,664 shares of company stock worth $296,325,762 in the last quarter. 7.88% of the stock is owned by insiders.

Several analysts recently weighed in on the company. Pivotal Research lifted their price objective on SYSCO from $58.00 to $62.00 and gave the company a “sell” rating in a report on Saturday, August 18th. Loop Capital lifted their price objective on SYSCO to $80.00 and gave the company a “buy” rating in a report on Tuesday, August 14th. Argus lifted their price objective on SYSCO from $67.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, August 16th. BMO Capital Markets lifted their price objective on SYSCO from $74.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday, August 14th. Finally, Morgan Stanley lifted their price objective on SYSCO from $67.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday, August 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $73.54.

SYY opened at $66.22 on Friday. SYSCO Co. has a 1 year low of $54.25 and a 1 year high of $75.98. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.80 and a current ratio of 1.30. The stock has a market capitalization of $35.02 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 1.91 and a beta of 0.56.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Friday, January 4th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.36%. This is a positive change from SYSCO’s previous quarterly dividend of $0.36. SYSCO’s payout ratio is 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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