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

Bank & Trust Co cut its holdings in Sysco Co. (NYSE:SYY) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Armstrong Advisory Group Inc. lifted its position in Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after buying an additional 310 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Sysco during the 3rd quarter valued at about $26,000. Valley Wealth Managers Inc. bought a new position in shares of Sysco in the third quarter worth approximately $31,000. Focused Wealth Management Inc purchased a new stake in Sysco during the 3rd quarter valued at approximately $37,000. Finally, Canoe Financial LP purchased a new stake in shares of Sysco during the 3rd quarter worth approximately $38,000. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on SYY. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Jefferies Financial Group upped their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Wells Fargo & Company lowered their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Melius started coverage on Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Finally, Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $85.93.

Insider Transactions at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. This trade represents a 18.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. This represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 83,306 shares of company stock valued at $6,485,050 in the last quarter. Insiders own 0.54% of the company’s stock.

Sysco Stock Down 0.1 %

SYY stock traded down $0.08 during midday trading on Tuesday, hitting $74.66. 470,478 shares of the company’s stock were exchanged, compared to its average volume of 1,370,137. The stock has a market capitalization of $36.67 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 2.10 and a beta of 1.18. The firm has a 50 day moving average price of $77.03 and a 200-day moving average price of $75.73. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89.

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

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be issued a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.73%. Sysco’s dividend payout ratio (DPR) is 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.