Iowa State Bank Sells 290 Shares of Sysco Co. (NYSE:SYY)

Iowa State Bank reduced its holdings in Sysco Co. (NYSE:SYY) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,766 shares of the company’s stock after selling 290 shares during the period. Iowa State Bank’s holdings in Sysco were worth $1,588,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Armstrong Advisory Group Inc. increased its stake in Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after acquiring an additional 310 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Sysco during the third quarter valued at approximately $26,000. Valley Wealth Managers Inc. bought a new position in shares of Sysco during the third quarter valued at approximately $31,000. Focused Wealth Management Inc purchased a new stake in shares of Sysco in the third quarter worth approximately $37,000. Finally, Canoe Financial LP bought a new stake in shares of Sysco during the 3rd quarter worth approximately $38,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Performance

Sysco stock traded down $0.41 during mid-day trading on Monday, reaching $75.02. 632,261 shares of the company traded hands, compared to its average volume of 1,318,943. The firm’s fifty day moving average is $77.04 and its two-hundred day moving average is $75.72. The company has a market capitalization of $36.85 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 2.10 and a beta of 1.18. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The firm had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $1.07 EPS. On average, equities research analysts expect that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.72%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insider Activity at Sysco

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,876,080. The trade was a 11.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction dated 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 directly owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,306 shares of company stock worth $6,485,050 over the last three months. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

SYY has been the topic of several research analyst reports. Melius started coverage on Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Finally, Jefferies Financial Group boosted their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.93.

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.