Bank & Trust Co Sells 280 Shares of Sysco Co. (NYSE:SYY)

Bank & Trust Co cut its stake in shares of Sysco Co. (NYSE:SYY) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,657 shares of the company’s stock after selling 280 shares during the period. Bank & Trust Co’s holdings in Sysco were worth $662,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TD Asset Management Inc raised its holdings in Sysco by 3.3% in the second quarter. TD Asset Management Inc now owns 183,372 shares of the company’s stock worth $13,091,000 after purchasing an additional 5,810 shares during the period. Victory Capital Management Inc. grew its stake in Sysco by 1.6% in the second quarter. Victory Capital Management Inc. now owns 450,989 shares of the company’s stock valued at $32,196,000 after acquiring an additional 6,998 shares during the period. Private Advisor Group LLC increased its holdings in shares of Sysco by 6.3% in the second quarter. Private Advisor Group LLC now owns 37,895 shares of the company’s stock worth $2,705,000 after acquiring an additional 2,232 shares in the last quarter. Candriam S.C.A. raised its position in shares of Sysco by 10.1% during the second quarter. Candriam S.C.A. now owns 52,093 shares of the company’s stock worth $3,719,000 after purchasing an additional 4,759 shares during the period. Finally, Asset Dedication LLC lifted its holdings in shares of Sysco by 19.1% during the 2nd quarter. Asset Dedication LLC now owns 1,307 shares of the company’s stock valued at $93,000 after purchasing an additional 210 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE SYY traded down $0.08 during mid-day trading on Tuesday, reaching $74.66. The company had a trading volume of 470,478 shares, compared to its average volume of 1,370,137. The firm has a market cap of $36.67 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 2.10 and a beta of 1.18. The business’s 50-day simple moving average is $77.03 and its 200 day simple moving average is $75.73. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The firm had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. During the same quarter in the prior year, the business posted $1.07 EPS. The business’s revenue was up 4.4% on a year-over-year basis. On average, research analysts predict that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business 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 dividend yield of 2.73%. The ex-dividend date is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Analyst Ratings Changes

Several brokerages have commented on SYY. Jefferies Financial Group raised their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. 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 note on Monday, September 16th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Wells Fargo & Company dropped their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.93.

Insider Buying and Selling

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the 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 of the company’s stock, valued at approximately $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 accessible through the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,306 shares of company stock worth $6,485,050 in the last three months. 0.54% of the stock is owned by corporate insiders.

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.