Penobscot Investment Management Company Inc. Sells 150 Shares of Sysco Co. (NYSE:SYY)

Penobscot Investment Management Company Inc. decreased its holdings in Sysco Co. (NYSE:SYY) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,070 shares of the company’s stock after selling 150 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Sysco were worth $846,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Stonebridge Financial Group LLC bought a new stake in Sysco in the 4th quarter worth about $31,000. Sherman Asset Management Inc. purchased a new stake in shares of Sysco during the 4th quarter valued at about $31,000. Flagship Wealth Advisors LLC bought a new stake in shares of Sysco in the fourth quarter worth approximately $31,000. SRS Capital Advisors Inc. raised its holdings in shares of Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after purchasing an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in Sysco by 107.4% during the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock valued at $47,000 after purchasing an additional 321 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Sysco Price Performance

SYY stock opened at $72.74 on Thursday. The company has a market capitalization of $35.58 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The company’s fifty day moving average price is $72.95 and its 200-day moving average price is $75.19. Sysco Co. has a one year low of $69.03 and a one year high of $82.33. 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 the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the firm posted $0.89 earnings per share. On average, equities analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.80%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio is presently 52.44%.

Analyst Ratings Changes

SYY has been the topic of a number of research reports. UBS Group dropped their price target on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Melius started coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. Jefferies Financial Group raised their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

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.