Bath Savings Trust Co Decreases Position in Sysco Co. (NYSE:SYY)

Bath Savings Trust Co lowered its stake in shares of Sysco Co. (NYSE:SYY) by 1.1% during the fourth quarter, Holdings Channel reports. The fund owned 62,178 shares of the company’s stock after selling 695 shares during the period. Bath Savings Trust Co’s holdings in Sysco were worth $4,754,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Armstrong Advisory Group Inc. raised its position in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Sysco in the third quarter valued at approximately $26,000. Valley Wealth Managers Inc. purchased a new position in Sysco in the third quarter worth approximately $31,000. Focused Wealth Management Inc acquired a new position in Sysco during the 3rd quarter worth approximately $37,000. Finally, Fairscale Capital LLC purchased a new stake in shares of Sysco in the 2nd quarter valued at approximately $38,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sheila Talton sold 2,900 shares of the firm’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 sale, the director now directly owns 12,955 shares of the company’s stock, valued at approximately $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 90 days, insiders have sold 83,306 shares of company stock worth $6,485,050. Company insiders own 0.54% of the company’s stock.

Sysco Stock Performance

Sysco stock traded down $0.07 during mid-day trading on Tuesday, reaching $74.67. 663,277 shares of the company were exchanged, compared to its average volume of 1,425,583. The firm’s 50-day simple moving average is $77.03 and its two-hundred day simple moving average is $75.73. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89. The firm has a market cap of $36.68 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 2.10 and a beta of 1.18. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share 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 net margin of 2.44% and a return on equity of 101.04%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $1.07 earnings per share. Equities analysts predict that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.73%. Sysco’s payout ratio is currently 52.44%.

Wall Street Analysts Forecast Growth

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

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.