Toronto Dominion Bank Sells 60,011 Shares of Sysco Co. (NYSE:SYY)

Toronto Dominion Bank lowered its stake in Sysco Co. (NYSE:SYY - Free Report) by 24.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 185,849 shares of the company's stock after selling 60,011 shares during the period. Toronto Dominion Bank's holdings in Sysco were worth $14,507,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Everpar Advisors LLC raised its stake in Sysco by 28.6% in the second quarter. Everpar Advisors LLC now owns 3,476 shares of the company's stock worth $248,000 after buying an additional 773 shares in the last quarter. Boston Trust Walden Corp lifted its stake in shares of Sysco by 2.5% in the 2nd quarter. Boston Trust Walden Corp now owns 289,495 shares of the company's stock valued at $20,667,000 after purchasing an additional 6,967 shares during the period. Raymond James & Associates boosted its position in shares of Sysco by 2.9% during the second quarter. Raymond James & Associates now owns 1,511,632 shares of the company's stock valued at $107,915,000 after purchasing an additional 42,707 shares in the last quarter. Williams Financial LLC boosted its position in shares of Sysco by 6,102.0% during the second quarter. Williams Financial LLC now owns 237,412 shares of the company's stock valued at $17,749,000 after purchasing an additional 233,584 shares in the last quarter. Finally, Shayne & Jacobs LLC grew its stake in Sysco by 1.5% in the second quarter. Shayne & Jacobs LLC now owns 333,327 shares of the company's stock worth $23,796,000 after purchasing an additional 4,841 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. StockNews.com raised Sysco from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. Jefferies Financial Group boosted their price objective on shares of Sysco from $91.00 to $92.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. Finally, Wells Fargo & Company lowered their target price on shares of Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.77.

Insiders Place Their Bets

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the company's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the firm's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, the director now directly owns 12,955 shares in the company, valued at $966,831.65. This trade represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,279 shares of company stock valued at $2,786,971. Insiders own 0.54% of the company's stock.

Sysco Stock Performance

Shares of SYY stock traded up $0.20 during trading hours on Friday, reaching $79.96. The company had a trading volume of 2,509,126 shares, compared to its average volume of 3,154,099. 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 business has a fifty day moving average price of $76.40 and a 200-day moving average price of $75.19. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The firm has a market cap of $39.28 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 2.11 and a beta of 1.19.

Sysco (NYSE:SYY - Get Free Report) last posted its 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). The company had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the firm posted $1.07 EPS. Sell-side analysts predict that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco's dividend payout ratio is 52.44%.

Sysco Company 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.