CENTRAL TRUST Co Raises Stock Position in Sysco Co. (NYSE:SYY)

CENTRAL TRUST Co grew its holdings in Sysco Co. (NYSE:SYY) by 74.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,812 shares of the company’s stock after acquiring an additional 2,471 shares during the period. CENTRAL TRUST Co’s holdings in Sysco were worth $444,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Fortem Financial Group LLC increased its stake in Sysco by 3.6% during the 4th quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock worth $296,000 after buying an additional 136 shares during the period. Koshinski Asset Management Inc. increased its stake in Sysco by 3.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after buying an additional 146 shares during the period. Cable Hill Partners LLC increased its stake in Sysco by 3.9% during the 3rd quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock worth $316,000 after buying an additional 152 shares during the period. Brooklyn Investment Group increased its position in shares of Sysco by 12.3% in the 4th quarter. Brooklyn Investment Group now owns 1,410 shares of the company’s stock worth $108,000 after purchasing an additional 154 shares during the last quarter. Finally, L.M. Kohn & Company increased its position in shares of Sysco by 2.4% in the 3rd quarter. L.M. Kohn & Company now owns 7,739 shares of the company’s stock worth $604,000 after purchasing an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 1.2 %

Sysco stock opened at $71.42 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The firm has a 50-day moving average price of $76.21 and a two-hundred day moving average price of $76.00. The firm has a market capitalization of $34.94 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.93 and a beta of 1.18. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter last year, the business posted $0.89 earnings per share. Sell-side analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

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 2.86%. The ex-dividend date was Friday, January 3rd. Sysco’s dividend payout ratio is currently 52.44%.

Insider Transactions at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction 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. The trade was a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 79,270 shares of company stock valued at $6,181,946. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Melius assumed coverage on shares of Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. UBS Group dropped their target price on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Morgan Stanley dropped their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Barclays dropped their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, Jefferies Financial Group lifted their price target on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $84.38.

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.