Stock Yards Bank & Trust Co. Reduces Position in Sysco Co. (NYSE:SYY)

Stock Yards Bank & Trust Co. trimmed its stake in shares of Sysco Co. (NYSE:SYY) by 60.0% in the 4th quarter, Holdings Channel reports. The firm owned 15,328 shares of the company’s stock after selling 23,018 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Sysco were worth $1,172,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYY. Armstrong Advisory Group Inc. raised its stake in Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after buying an additional 310 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Sysco in the 3rd quarter worth approximately $26,000. Valley Wealth Managers Inc. purchased a new position in shares of Sysco in the third quarter worth approximately $31,000. Focused Wealth Management Inc bought a new stake in Sysco during the third quarter valued at approximately $37,000. Finally, Canoe Financial LP bought a new stake in shares of Sysco during the 3rd quarter valued at $38,000. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 0.8 %

Shares of SYY stock opened at $72.31 on Tuesday. The company has a market cap of $35.38 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 1.93 and a beta of 1.18. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33. The stock’s 50 day simple moving average is $76.30 and its two-hundred day simple moving average is $76.02. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter last year, the firm posted $0.89 EPS. Research analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were paid a dividend of $0.51 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.82%. Sysco’s dividend payout ratio is presently 52.44%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SYY shares. Melius Research raised shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Barclays lowered their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Guggenheim reaffirmed a “buy” rating and set a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.85.

Insider Activity at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, the director now directly owns 12,955 shares in the company, valued at $966,831.65. This trade represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,270 shares of company stock worth $6,181,946. Insiders own 0.54% of the company’s stock.

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.