Independence Bank of Kentucky Has $233,000 Holdings in Sysco Co. (NYSE:SYY)

Independence Bank of Kentucky raised its position in shares of Sysco Co. (NYSE:SYYFree Report) by 116.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,188 shares of the company’s stock after buying an additional 1,718 shares during the period. Independence Bank of Kentucky’s holdings in Sysco were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. AdvisorNet Financial Inc boosted its stake in Sysco by 74.0% in the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after purchasing an additional 159 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in Sysco by 74.6% during the 3rd quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock worth $28,000 after buying an additional 179 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in Sysco in the 1st quarter valued at about $32,000. CGC Financial Services LLC acquired a new stake in Sysco in the 2nd quarter valued at about $33,000. Finally, Intrepid Capital Management Inc. bought a new position in Sysco in the 2nd quarter worth approximately $35,000. Institutional investors own 83.41% of the company’s stock.

Insider Activity

In related news, CAO Neil Russell sold 1,722 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at $1,926,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.58% of the stock is owned by corporate insiders.

Sysco Trading Down 0.2 %

Shares of NYSE:SYY opened at $80.43 on Wednesday. The firm has a market cap of $40.04 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.64 and a beta of 1.15. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The company’s fifty day simple moving average is $79.90 and its 200 day simple moving average is $73.56. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00.

Sysco (NYSE:SYYGet Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. Sysco’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the company earned $0.80 earnings per share. As a group, research analysts forecast that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.49%. Sysco’s dividend payout ratio is 48.90%.

Analyst Ratings Changes

SYY has been the subject of several research reports. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. boosted their price objective on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. BMO Capital Markets lifted their price target on shares of Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Barclays increased their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Finally, Stephens increased their price target on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.38.

View Our Latest Research Report on SYY

Sysco Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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