Folger Nolan Fleming Douglas Capital Management Inc. Has $933,000 Holdings in Sysco Co. (NYSE:SYY)

Folger Nolan Fleming Douglas Capital Management Inc. decreased its stake in shares of Sysco Co. (NYSE:SYY) by 15.8% in the 3rd quarter, Holdings Channel reports. The fund owned 11,948 shares of the company’s stock after selling 2,234 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Sysco were worth $933,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Plimoth Trust Co. LLC grew its position in shares of Sysco by 0.6% during the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after buying an additional 139 shares during the period. Meeder Advisory Services Inc. raised its position in Sysco by 1.7% in the first quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock worth $679,000 after acquiring an additional 141 shares during the period. Koshinski Asset Management Inc. lifted its stake in Sysco by 3.1% in the third quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock valued at $383,000 after purchasing an additional 146 shares during the last quarter. NorthRock Partners LLC grew its stake in shares of Sysco by 3.7% during the 1st quarter. NorthRock Partners LLC now owns 4,121 shares of the company’s stock worth $335,000 after acquiring an additional 147 shares during the period. Finally, Powers Advisory Group LLC boosted its position in Sysco by 1.6% during the second quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock worth $682,000 after purchasing an additional 149 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on SYY. JPMorgan Chase & Co. lifted 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. Bank of America cut their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Barclays upped their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley reduced their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average price target of $85.77.

Sysco Stock Performance

Shares of NYSE:SYY opened at $74.31 on Thursday. The stock has a market capitalization of $36.50 billion, a P/E ratio of 19.10, a PEG ratio of 1.93 and a beta of 1.20. Sysco Co. has a 52 week low of $64.28 and a 52 week high of $82.89. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The firm has a fifty day simple moving average of $76.28 and a two-hundred day simple moving average of $74.74.

Sysco (NYSE:SYY) last released its quarterly earnings data 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 return on equity of 102.09% and a net margin of 2.48%. The firm had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. During the same quarter in the previous year, the business earned $1.07 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, analysts expect that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.75%. The ex-dividend date was Friday, October 4th. Sysco’s dividend payout ratio is currently 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.