Morton Community Bank Has $2.85 Million Stock Position in Sysco Co. (NYSE:SYY)

Morton Community Bank boosted its position in shares of Sysco Co. (NYSE:SYY) by 6.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,965 shares of the company’s stock after acquiring an additional 2,410 shares during the period. Morton Community Bank’s holdings in Sysco were worth $2,853,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. TruNorth Capital Management LLC bought a new stake in Sysco during the second quarter worth about $25,000. First United Bank & Trust acquired a new stake in Sysco during the 4th quarter valued at $26,000. Verity & Verity LLC bought a new position in Sysco in the 1st quarter valued at $26,000. Burkett Financial Services LLC acquired a new position in Sysco in the fourth quarter worth $30,000. Finally, OFI Invest Asset Management bought a new stake in shares of Sysco during the first quarter worth $31,000. 83.41% of the stock is owned by institutional investors.

Sysco Stock Down 0.5 %

SYY traded down $0.40 during trading hours on Friday, hitting $78.58. 2,155,147 shares of the company’s stock were exchanged, compared to its average volume of 2,165,221. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89. The stock’s 50-day moving average is $74.61 and its two-hundred day moving average is $75.81. The stock has a market cap of $39.13 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 2.05 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.34 EPS. Sell-side analysts predict that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is 49.76%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SYY shares. Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a report on Tuesday, May 28th. BMO Capital Markets reduced their target price on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. JPMorgan Chase & Co. dropped their price objective on Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. Finally, Bank of America dropped their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.27.

About Sysco

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.