Peninsula Asset Management Inc. Has $2.96 Million Stake in Sysco Co. (NYSE:SYY)

Peninsula Asset Management Inc. cut its holdings in shares of Sysco Co. (NYSE:SYY) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,645 shares of the company’s stock after selling 650 shares during the quarter. Sysco accounts for 1.6% of Peninsula Asset Management Inc.’s holdings, making the stock its 23rd largest position. Peninsula Asset Management Inc.’s holdings in Sysco were worth $2,955,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYY. Ashton Thomas Securities LLC acquired a new position in Sysco in the 3rd quarter valued at $26,000. Valley Wealth Managers Inc. bought a new stake in Sysco during the third quarter worth about $31,000. Stonebridge Financial Group LLC bought a new position in Sysco in the 4th quarter valued at about $31,000. Sherman Asset Management Inc. acquired a new position in shares of Sysco in the 4th quarter valued at approximately $31,000. Finally, SRS Capital Advisors Inc. increased its stake in Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after acquiring an additional 149 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SYY has been the subject of several recent analyst reports. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Guggenheim restated a “buy” rating and issued a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Melius began coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. Jefferies Financial Group boosted their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Melius Research raised Sysco to a “hold” rating in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Insiders Place Their Bets

In related news, EVP Greg D. Bertrand sold 48,027 shares of the company’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 sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.

Sysco Stock Performance

Shares of Sysco stock opened at $73.35 on Friday. The business has a 50-day simple moving average of $73.28 and a 200 day simple moving average of $75.52. The firm has a market capitalization of $35.89 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 1.88 and a beta of 1.11. 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 Co. has a one year low of $69.03 and a one year high of $82.33.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting 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 company posted $0.89 EPS. On average, research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

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

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.