First National Trust Co Boosts Position in SYSCO Co. (SYY)
First National Trust Co increased its stake in SYSCO Co. (NYSE:SYY) by 11.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,975 shares of the company’s stock after purchasing an additional 4,904 shares during the quarter. First National Trust Co’s holdings in SYSCO were worth $2,853,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Northwest Quadrant Wealth Management LLC raised its holdings in SYSCO by 0.6% during the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 5,169 shares of the company’s stock valued at $269,000 after acquiring an additional 29 shares during the period. Keel Point LLC raised its holdings in SYSCO by 0.8% during the 2nd quarter. Keel Point LLC now owns 5,782 shares of the company’s stock valued at $291,000 after acquiring an additional 47 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in SYSCO by 0.6% during the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 17,800 shares of the company’s stock valued at $896,000 after acquiring an additional 100 shares during the period. Laurel Wealth Advisors Inc. raised its holdings in SYSCO by 1.1% during the 2nd quarter. Laurel Wealth Advisors Inc. now owns 10,334 shares of the company’s stock valued at $520,000 after acquiring an additional 116 shares during the period. Finally, MML Investors Services LLC raised its holdings in SYSCO by 0.9% during the 2nd quarter. MML Investors Services LLC now owns 13,403 shares of the company’s stock valued at $675,000 after acquiring an additional 120 shares during the period. 80.08% of the stock is currently owned by institutional investors.
SYSCO Co. (NYSE SYY) traded up $0.34 during trading on Wednesday, hitting $61.72. 2,438,300 shares of the stock traded hands, compared to its average volume of 2,653,770. The company has a market capitalization of $32,360.00, a PE ratio of 28.18, a P/E/G ratio of 2.42 and a beta of 0.53. SYSCO Co. has a 52-week low of $48.85 and a 52-week high of $62.79. The company has a current ratio of 1.40, a quick ratio of 0.88 and a debt-to-equity ratio of 3.77.
SYSCO (NYSE:SYY) last announced its earnings results on Monday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. SYSCO had a net margin of 2.12% and a return on equity of 58.47%. The company had revenue of $14.65 billion during the quarter, compared to analyst estimates of $14.43 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. equities research analysts forecast that SYSCO Co. will post 2.81 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This is a positive change from SYSCO’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 2.33%. SYSCO’s payout ratio is 65.75%.
In related news, EVP Wayne Shurts sold 7,800 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $54.86, for a total value of $427,908.00. Following the completion of the transaction, the executive vice president now directly owns 58,776 shares in the company, valued at $3,224,451.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William J. Delaney III sold 150,000 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $54.05, for a total transaction of $8,107,500.00. Following the completion of the transaction, the chief executive officer now owns 526,725 shares of the company’s stock, valued at $28,469,486.25. The disclosure for this sale can be found here. Insiders sold 291,172 shares of company stock valued at $16,592,605 over the last quarter. 9.60% of the stock is owned by company insiders.
Several research analysts have recently weighed in on the stock. Loop Capital upped their price target on shares of SYSCO to $68.00 and gave the stock a “buy” rating in a report on Monday, December 11th. Zacks Investment Research cut shares of SYSCO from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Pivotal Research reaffirmed a “hold” rating and issued a $53.00 price target on shares of SYSCO in a report on Sunday, November 5th. BMO Capital Markets set a $66.00 price target on shares of SYSCO and gave the stock a “buy” rating in a report on Friday, December 8th. Finally, Morgan Stanley raised shares of SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target on the stock in a report on Tuesday. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $59.92.
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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