Trust Co of the South Has $360,000 Position in Sysco Co. (NYSE:SYY)

Trust Co of the South reduced its holdings in Sysco Co. (NYSE:SYY) by 16.1% in the 4th quarter, Holdings Channel reports. The fund owned 4,707 shares of the company’s stock after selling 900 shares during the period. Trust Co of the South’s holdings in Sysco were worth $360,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SYY. Farther Finance Advisors LLC lifted its stake in Sysco by 49.0% in the second quarter. Farther Finance Advisors LLC now owns 3,204 shares of the company’s stock valued at $224,000 after acquiring an additional 1,054 shares during the last quarter. Aptus Capital Advisors LLC lifted its position in shares of Sysco by 4.2% in the second quarter. Aptus Capital Advisors LLC now owns 4,616 shares of the company’s stock worth $330,000 after buying an additional 185 shares during the last quarter. Summit Financial LLC bought a new stake in shares of Sysco during the 2nd quarter worth about $248,000. Rhumbline Advisers raised its stake in shares of Sysco by 4.8% in the 2nd quarter. Rhumbline Advisers now owns 1,016,156 shares of the company’s stock valued at $72,543,000 after acquiring an additional 46,793 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC acquired a new position in Sysco during the second quarter valued at approximately $642,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SYY shares. Jefferies Financial Group lifted their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. JPMorgan Chase & Co. boosted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Melius Research raised Sysco to a “hold” rating in a report on Wednesday, December 18th. Finally, Wells Fargo & Company dropped their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.93.

Insider Activity at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of the 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 sale, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Greg D. Bertrand sold 21,844 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the completion of the sale, the executive vice president now owns 60,581 shares of the company’s stock, valued at approximately $4,846,480. This represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,279 shares of company stock worth $2,786,971 over the last ninety days. Company insiders own 0.54% of the company’s stock.

Sysco Price Performance

Shares of SYY stock traded down $0.75 during trading hours on Thursday, reaching $75.71. 828,249 shares of the company were exchanged, compared to its average volume of 3,122,947. 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. The stock’s fifty day moving average is $76.98 and its two-hundred day moving average is $75.66. The company has a market cap of $37.19 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 2.10 and a beta of 1.19.

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

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is 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.