Crews Bank & Trust Invests $112,000 in Sysco Co. (NYSE:SYY)

Crews Bank & Trust acquired a new stake in shares of Sysco Co. (NYSE:SYY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,462 shares of the company’s stock, valued at approximately $112,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp increased its stake in shares of Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after buying an additional 2,721,449 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after acquiring an additional 672,940 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Sysco by 9.7% in the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock worth $374,410,000 after purchasing an additional 422,954 shares during the last quarter. Montrusco Bolton Investments Inc. raised its stake in shares of Sysco by 8.5% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after purchasing an additional 375,409 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Sysco by 4.1% during the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock worth $332,983,000 after purchasing an additional 168,163 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on SYY shares. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, January 27th. Guggenheim reiterated a “buy” rating and issued a $85.00 price target on shares of Sysco in a report on Wednesday. Truist Financial reduced their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday. Melius Research upgraded shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Finally, Jefferies Financial Group raised their price target on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.85.

Insider Activity

In other news, EVP Greg D. Bertrand sold 21,844 shares of Sysco stock in a transaction that occurred on 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 transaction, the executive vice president now owns 60,581 shares of the company’s stock, valued at $4,846,480. The trade was a 26.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,270 shares of company stock worth $6,181,946 over the last three months. Corporate insiders own 0.54% of the company’s stock.

Sysco Stock Performance

Shares of SYY stock opened at $72.79 on Friday. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.73. The firm has a market capitalization of $35.76 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 1.96 and a beta of 1.18. The business has a 50 day simple moving average of $76.36 and a 200 day simple moving average of $75.98.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the previous year, the business earned $0.89 earnings per share. On average, equities research analysts anticipate that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Friday, January 3rd. Sysco’s dividend payout ratio is currently 52.44%.

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.