Sysco Co. (NYSE:SYY) Shares Sold by 1ST Source Bank

1ST Source Bank trimmed its position in Sysco Co. (NYSE:SYY) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,580 shares of the company’s stock after selling 1,339 shares during the period. 1ST Source Bank’s holdings in Sysco were worth $1,879,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SYY. Stonebridge Financial Group LLC acquired a new stake in Sysco in the 4th quarter worth about $31,000. Sherman Asset Management Inc. acquired a new stake in Sysco in the 4th quarter worth about $31,000. SRS Capital Advisors Inc. boosted its holdings in Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after buying an additional 149 shares during the last quarter. HHM Wealth Advisors LLC boosted its holdings in Sysco by 107.4% in the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after buying an additional 321 shares during the last quarter. Finally, Hager Investment Management Services LLC acquired a new stake in Sysco in the 4th quarter worth about $50,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SYY. Jefferies Financial Group boosted their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Melius Research upgraded Sysco to a “hold” rating in a report on Wednesday, December 18th. Guggenheim restated a “buy” rating and set a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lowered their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Trading Up 1.0 %

SYY opened at $73.35 on Monday. Sysco Co. has a one year low of $69.03 and a one year high of $82.33. The stock has a market capitalization of $35.89 billion, a PE ratio of 18.86, a P/E/G ratio of 1.88 and a beta of 1.11. The business’s 50 day moving average price is $73.28 and its 200 day moving average price is $75.51. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting 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 period in the previous year, the firm earned $0.89 EPS. As a group, equities research analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s payout ratio is 52.44%.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by corporate insiders.

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.