CENTRAL TRUST Co Decreases Stock Holdings in Sysco Corporation (NYSE:SYY)

CENTRAL TRUST Co reduced its position in Sysco Corporation (NYSE:SYY) by 42.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,364 shares of the company’s stock after selling 2,448 shares during the period. CENTRAL TRUST Co’s holdings in Sysco were worth $252,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Buckley Wealth Management LLC grew its holdings in Sysco by 0.8% in the fourth quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock worth $1,391,000 after purchasing an additional 150 shares during the last quarter. WR Wealth Planners LLC grew its stake in Sysco by 9.9% during the 4th quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock worth $326,000 after buying an additional 386 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Sysco during the 4th quarter valued at about $54,000. Fiduciary Trust Co raised its stake in Sysco by 0.3% in the fourth quarter. Fiduciary Trust Co now owns 66,495 shares of the company’s stock valued at $5,084,000 after buying an additional 196 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its holdings in Sysco by 23.2% in the fourth quarter. UniSuper Management Pty Ltd now owns 42,904 shares of the company’s stock worth $3,280,000 after acquiring an additional 8,076 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of SYY opened at $73.97 on Friday. The business’s 50-day moving average is $72.32 and its two-hundred day moving average is $73.62. The company has a market capitalization of $35.86 billion, a P/E ratio of 19.16, a P/E/G ratio of 2.39 and a beta of 0.81. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.76 and a current ratio of 1.26.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a return on equity of 107.96% and a net margin of 2.36%. The company had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. During the same period last year, the business earned $0.96 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. Research analysts predict that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.92%. This is a positive change from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco’s payout ratio is 52.85%.

Insider Activity at Sysco

In related news, Director Sheila Talton sold 356 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the sale, the director now owns 12,738 shares in the company, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SYY. Barclays cut their price objective on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company cut their price target on shares of Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. UBS Group lowered their price objective on shares of Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. JPMorgan Chase & Co. upped their target price on Sysco from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, May 20th. Finally, BMO Capital Markets reduced their target price on Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $83.00.

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.