Trust Co. of Toledo NA OH Sells 337 Shares of Sysco Co. (NYSE:SYY)

Trust Co. of Toledo NA OH lowered its stake in shares of Sysco Co. (NYSE:SYY) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,245 shares of the company’s stock after selling 337 shares during the period. Trust Co. of Toledo NA OH’s holdings in Sysco were worth $325,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. boosted its holdings 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 buying an additional 310 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Sysco during the third quarter worth about $26,000. Valley Wealth Managers Inc. bought a new position in Sysco during the third quarter worth about $31,000. Focused Wealth Management Inc bought a new position in Sysco during the third quarter worth about $37,000. Finally, Canoe Financial LP bought a new position in Sysco during the third quarter worth about $38,000. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

SYY has been the topic of a number of recent analyst reports. Melius assumed coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price on the stock. Wells Fargo & Company dropped their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday. Finally, Jefferies Financial Group raised their price target on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $85.93.

Insider Transactions at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. The trade was a 7.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 83,306 shares of company stock worth $6,485,050. 0.54% of the stock is owned by company insiders.

Sysco Stock Up 0.2 %

NYSE:SYY opened at $73.71 on Tuesday. The firm has a market capitalization of $36.21 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 2.10 and a beta of 1.18. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89. The stock’s 50 day moving average price is $76.98 and its two-hundred day moving average price is $75.76. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38.

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

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is 52.44%.

About Sysco

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.