Stock Yards Bank & Trust Co. Sells 2,476 Shares of Sysco Co. (NYSE:SYY)

Stock Yards Bank & Trust Co. trimmed its position in shares of Sysco Co. (NYSE:SYY) by 5.7% during the fourth quarter, HoldingsChannel reports. The firm owned 41,309 shares of the company’s stock after selling 2,476 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Sysco were worth $3,021,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYY. AdvisorNet Financial Inc boosted its position in shares of Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after purchasing an additional 159 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Sysco by 74.6% during the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock worth $28,000 after purchasing an additional 179 shares in the last quarter. BluePath Capital Management LLC bought a new position in shares of Sysco during the third quarter worth $38,000. Milestone Investment Advisors LLC bought a new position in shares of Sysco during the third quarter worth $40,000. Finally, AllSquare Wealth Management LLC bought a new position in shares of Sysco during the third quarter worth $42,000. 83.41% of the stock is owned by institutional investors.

Sysco Stock Performance

Shares of SYY stock opened at $77.33 on Tuesday. The company has a market capitalization of $38.50 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.56 and a beta of 1.15. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.80 and a current ratio of 1.37. The company has a 50-day simple moving average of $79.33 and a 200 day simple moving average of $74.55. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.32 billion. Sysco had a net margin of 2.69% and a return on equity of 105.22%. Sysco’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 EPS. On average, sell-side analysts predict that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Thursday, April 4th. Sysco’s dividend payout ratio is currently 48.90%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets lifted their price target on shares of Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Stephens raised their price objective on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Barclays lifted their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus price target of $85.38.

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the sale, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.58% of the company’s stock.

Sysco Company 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.