Community Bank N.A. Reduces Stake in Sysco Co. (NYSE:SYY)

Community Bank N.A. lowered its stake in Sysco Co. (NYSE:SYY) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,665 shares of the company’s stock after selling 150 shares during the period. Community Bank N.A.’s holdings in Sysco were worth $268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC boosted its position in shares of Sysco by 263.4% during the third quarter. Wealthfront Advisers LLC now owns 34,007 shares of the company’s stock valued at $2,246,000 after buying an additional 24,650 shares during the period. Professional Advisory Services Inc. purchased a new position in shares of Sysco during the fourth quarter valued at approximately $20,057,000. Harbour Trust & Investment Management Co purchased a new position in shares of Sysco during the fourth quarter valued at approximately $4,623,000. Pacer Advisors Inc. boosted its position in shares of Sysco by 40.1% during the fourth quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock valued at $6,014,000 after buying an additional 23,558 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Sysco by 16.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock valued at $21,865,000 after buying an additional 41,618 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Activity

In other news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.58% of the company’s stock.

Sysco Stock Down 0.7 %

Shares of SYY stock traded down $0.55 during trading hours on Thursday, reaching $76.74. 1,020,660 shares of the company’s stock were exchanged, compared to its average volume of 2,877,814. The stock’s 50 day moving average is $79.26 and its 200-day moving average is $74.67. The company has a market cap of $38.20 billion, a price-to-earnings ratio of 18.90, a P/E/G ratio of 1.57 and a beta of 1.15. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings results 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 for 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%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 earnings per share. Analysts predict that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, April 4th. Sysco’s dividend payout ratio (DPR) is presently 48.90%.

Analyst Upgrades and Downgrades

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

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.