Sysco Co. (NYSE:SYY) Shares Bought by Camden National Bank

Camden National Bank increased its position in shares of Sysco Co. (NYSE:SYY) by 56.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,657 shares of the company’s stock after acquiring an additional 2,048 shares during the period. Camden National Bank’s holdings in Sysco were worth $433,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Fortem Financial Group LLC grew its holdings in Sysco by 3.6% during the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock worth $296,000 after acquiring an additional 136 shares during the period. SRS Capital Advisors Inc. grew its holdings in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after acquiring an additional 149 shares during the period. S.A. Mason LLC grew its holdings in Sysco by 10.7% during the fourth quarter. S.A. Mason LLC now owns 1,546 shares of the company’s stock worth $118,000 after acquiring an additional 150 shares during the period. Cable Hill Partners LLC grew its holdings in Sysco by 3.9% during the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock worth $316,000 after acquiring an additional 152 shares during the period. Finally, Brooklyn Investment Group grew its holdings in Sysco by 12.3% during the fourth quarter. Brooklyn Investment Group now owns 1,410 shares of the company’s stock worth $108,000 after acquiring an additional 154 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays lowered their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Morgan Stanley dropped their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Truist Financial dropped their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Melius initiated coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $84.77.

Sysco Trading Up 1.9 %

Shares of NYSE SYY opened at $76.53 on Friday. Sysco Co. has a one year low of $69.03 and a one year high of $82.33. The firm has a market capitalization of $37.44 billion, a PE ratio of 19.67, a PEG ratio of 1.88 and a beta of 1.11. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The business has a 50-day moving average price of $73.47 and a two-hundred day moving average price of $75.62.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter last year, the firm posted $0.89 earnings per share. As a group, analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.67%. Sysco’s dividend payout ratio is 52.44%.

Insider Activity

In other news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is owned by corporate insiders.

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.