Stock Yards Bank & Trust Co. Cuts Position in Sysco Co. (NYSE:SYY)

Stock Yards Bank & Trust Co. trimmed its holdings in shares of Sysco Co. (NYSE:SYY) by 60.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,328 shares of the company’s stock after selling 23,018 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Sysco were worth $1,172,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Armstrong Advisory Group Inc. boosted its holdings in shares of Sysco by 1,240.0% in the 3rd 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 stake in Sysco in the third quarter worth about $26,000. Valley Wealth Managers Inc. purchased a new position in Sysco in the third quarter valued at about $31,000. Focused Wealth Management Inc bought a new position in shares of Sysco during the 3rd quarter valued at approximately $37,000. Finally, Canoe Financial LP purchased a new stake in shares of Sysco during the 3rd quarter worth approximately $38,000. 83.41% of the stock is currently owned by institutional investors.

Insider Transactions at Sysco

In related news, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, the director now directly owns 12,955 shares in the company, valued at $966,831.65. This represents a 18.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. The trade was a 11.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,270 shares of company stock worth $6,181,946. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SYY shares. Truist Financial reduced their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Barclays cut their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Morgan Stanley cut their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, Melius assumed coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.85.

Sysco Stock Performance

NYSE SYY opened at $72.31 on Tuesday. 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 company has a fifty day moving average of $76.30 and a 200-day moving average of $76.02. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33. The company has a market capitalization of $35.38 billion, a P/E ratio of 18.59, a P/E/G ratio of 1.93 and a beta of 1.18.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting 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 period last year, the company earned $0.89 earnings per share. As a group, equities research analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.82%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Sysco 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.