Coastline Trust Co cut its stake in SYSCO Co. (NYSE:SYY) by 1.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 123,784 shares of the company’s stock after selling 2,020 shares during the period. SYSCO comprises approximately 1.1% of Coastline Trust Co’s portfolio, making the stock its 11th largest position. Coastline Trust Co’s holdings in SYSCO were worth $7,517,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. First National Trust Co lifted its stake in SYSCO by 11.7% in the fourth quarter. First National Trust Co now owns 46,975 shares of the company’s stock worth $2,853,000 after purchasing an additional 4,904 shares during the last quarter. National Pension Service lifted its stake in SYSCO by 3.2% in the fourth quarter. National Pension Service now owns 490,372 shares of the company’s stock worth $29,780,000 after purchasing an additional 15,132 shares during the last quarter. 440 Investment Group LLC bought a new stake in SYSCO in the fourth quarter worth $566,000. Private Trust Co. NA lifted its stake in SYSCO by 37.5% in the fourth quarter. Private Trust Co. NA now owns 6,677 shares of the company’s stock worth $405,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Pennsylvania Trust Co lifted its stake in SYSCO by 2.3% in the fourth quarter. Pennsylvania Trust Co now owns 44,638 shares of the company’s stock worth $2,711,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 80.08% of the company’s stock.
Several equities analysts have recently commented on SYY shares. Zacks Investment Research raised shares of SYSCO from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Tuesday, October 10th. Pivotal Research reaffirmed a “hold” rating and set a $53.00 price objective on shares of SYSCO in a research note on Sunday, November 5th. BMO Capital Markets set a $66.00 price objective on shares of SYSCO and gave the company a “buy” rating in a research note on Friday, December 8th. Loop Capital upped their price objective on shares of SYSCO to $68.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Finally, Morgan Stanley raised shares of SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price objective for the company in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $59.92.
Shares of SYSCO Co. (SYY) traded up $0.34 during midday trading on Wednesday, hitting $61.72. 2,438,300 shares of the company traded hands, compared to its average volume of 2,653,770. SYSCO Co. has a one year low of $48.85 and a one year high of $62.79. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.40 and a quick ratio of 0.88. The stock has a market capitalization of $32,410.00, a PE ratio of 28.18, a P/E/G ratio of 2.42 and a beta of 0.53.
SYSCO (NYSE:SYY) last announced its quarterly earnings results on Monday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $14.43 billion. During the same quarter in the previous year, the company earned $0.67 earnings per share. SYSCO’s quarterly revenue was up 4.9% on a year-over-year basis. equities analysts anticipate that SYSCO Co. will post 2.81 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, January 4th. This represents a $1.44 annualized dividend and a dividend yield of 2.33%. This is a boost from SYSCO’s previous quarterly dividend of $0.33. SYSCO’s payout ratio is currently 65.75%.
In other SYSCO news, SVP Greg D. Bertrand sold 81,038 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $60.76, for a total value of $4,923,868.88. Following the sale, the senior vice president now owns 69,721 shares in the company, valued at $4,236,247.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of the company’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $54.86, for a total transaction of $427,908.00. Following the completion of the sale, the executive vice president now owns 58,776 shares in the company, valued at approximately $3,224,451.36. The disclosure for this sale can be found here. Insiders have sold 291,172 shares of company stock worth $16,592,605 in the last quarter. 9.60% of the stock is owned by corporate insiders.
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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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