Cambridge Trust Co. Buys 386 Shares of Sysco Co. (NYSE:SYY)

Cambridge Trust Co. lifted its stake in shares of Sysco Co. (NYSE:SYY) by 5.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 7,842 shares of the company’s stock after purchasing an additional 386 shares during the quarter. Cambridge Trust Co.’s holdings in Sysco were worth $573,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Federated Hermes Inc. raised its stake in Sysco by 8.3% during the fourth quarter. Federated Hermes Inc. now owns 52,383 shares of the company’s stock worth $3,831,000 after buying an additional 4,035 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Sysco by 6.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 45,783 shares of the company’s stock worth $3,348,000 after purchasing an additional 2,786 shares in the last quarter. Tyche Wealth Partners LLC acquired a new position in Sysco in the fourth quarter valued at approximately $361,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Sysco by 16.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock worth $21,865,000 after buying an additional 41,618 shares during the period. Finally, Everence Capital Management Inc. grew its position in shares of Sysco by 41.7% during the 4th quarter. Everence Capital Management Inc. now owns 24,650 shares of the company’s stock worth $1,803,000 after buying an additional 7,250 shares during the period. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.3 %

Shares of Sysco stock opened at $75.65 on Friday. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The firm has a market cap of $37.66 billion, a PE ratio of 18.50, a PEG ratio of 1.54 and a beta of 1.15. The company has a 50 day simple moving average of $79.44 and a two-hundred day simple moving average of $74.24.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $19.29 billion during the quarter, compared to analysts’ expectations of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 EPS. Analysts expect that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be paid a $0.50 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.64%. Sysco’s dividend payout ratio (DPR) is currently 48.90%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Sysco

In other news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.58% of the company’s stock.

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.