Morton Community Bank Purchases 145 Shares of Sysco Co. (NYSE:SYY)

Morton Community Bank increased its stake in Sysco Co. (NYSE:SYY) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,585 shares of the company’s stock after purchasing an additional 145 shares during the period. Morton Community Bank’s holdings in Sysco were worth $3,103,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Sysco in the third quarter valued at about $26,000. Stonebridge Financial Group LLC bought a new position in Sysco in the fourth quarter valued at about $31,000. Valley Wealth Managers Inc. bought a new position in Sysco in the third quarter valued at about $31,000. Sherman Asset Management Inc. acquired a new stake in shares of Sysco during the fourth quarter valued at about $31,000. Finally, SRS Capital Advisors Inc. boosted its stake in shares of Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after purchasing an additional 149 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SYY. Truist Financial cut their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Guggenheim reissued a “buy” rating and set a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Barclays cut their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Price Performance

Shares of SYY opened at $76.53 on Monday. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The business’s 50 day moving average price is $73.47 and its two-hundred day moving average price is $75.60. The firm has a market cap of $37.44 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the prior year, the business earned $0.89 earnings per share. On average, equities analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given 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 dividend yield of 2.67%. Sysco’s dividend payout ratio is presently 52.44%.

Insider Activity

In related news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

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.