InvesTrust Invests $789,000 in Sysco Co. (NYSE:SYY)

InvesTrust acquired a new position in Sysco Co. (NYSE:SYY) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 10,327 shares of the company’s stock, valued at approximately $789,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fulton Bank N.A. boosted its position in shares of Sysco by 69.5% in the 4th quarter. Fulton Bank N.A. now owns 11,888 shares of the company’s stock worth $909,000 after purchasing an additional 4,876 shares in the last quarter. International Assets Investment Management LLC bought a new position in Sysco in the 4th quarter worth $9,500,000. Canandaigua National Bank & Trust Co. grew its holdings in Sysco by 15.7% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 10,906 shares of the company’s stock valued at $834,000 after buying an additional 1,476 shares in the last quarter. Fortem Financial Group LLC boosted its holdings in shares of Sysco by 3.6% during the 4th quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock valued at $296,000 after purchasing an additional 136 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in Sysco by 52.3% during the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock valued at $208,666,000 after buying an additional 933,327 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Greg D. Bertrand sold 21,844 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was 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. This represents a 26.50 % decrease in their position. The sale was disclosed in a document filed 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 on Wednesday, December 4th. The shares were 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 owns 48,451 shares in the company, 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 ninety days. 0.54% of the stock is currently owned by corporate insiders.

Sysco Stock Performance

Sysco stock traded up $0.04 during midday trading on Wednesday, hitting $74.59. 917,219 shares of the company were exchanged, compared to its average volume of 1,562,912. 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 Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The business has a fifty day simple moving average of $77.04 and a two-hundred day simple moving average of $75.74. The firm has a market capitalization of $36.64 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 2.10 and a beta of 1.18.

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

Sysco Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.73%. Sysco’s payout ratio is 52.44%.

Wall Street Analyst Weigh In

Several research analysts recently commented on SYY shares. JPMorgan Chase & Co. lifted their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Jefferies Financial Group raised their price target on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Finally, Wells Fargo & Company decreased their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.93.

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.