Harbour Trust & Investment Management Co Increases Stock Position in Sysco Co. (NYSE:SYY)

Harbour Trust & Investment Management Co raised its position in Sysco Co. (NYSE:SYY) by 0.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 62,168 shares of the company’s stock after purchasing an additional 294 shares during the period. Harbour Trust & Investment Management Co’s holdings in Sysco were worth $4,753,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Armstrong Advisory Group Inc. lifted 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 acquiring an additional 310 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Sysco in the 3rd quarter worth about $26,000. Valley Wealth Managers Inc. bought a new position in Sysco during the third quarter valued at about $31,000. Focused Wealth Management Inc purchased a new stake in Sysco during the third quarter worth about $37,000. Finally, Canoe Financial LP bought a new stake in Sysco in the third quarter worth about $38,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. This represents a 11.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the transaction, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,270 shares of company stock worth $6,181,946 in the last quarter. 0.54% of the stock is owned by insiders.

Sysco Trading Down 0.2 %

Shares of SYY opened at $71.13 on Monday. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33. The company has a market capitalization of $34.80 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.88 and a beta of 1.17. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The firm’s 50 day simple moving average is $75.78 and its 200 day simple moving average is $75.92.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the company posted $0.89 earnings per share. Sell-side analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were issued a dividend of $0.51 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. Sysco’s dividend payout ratio is 52.44%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group decreased their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Truist Financial lowered their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley cut their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Finally, Guggenheim reiterated a “buy” rating and issued a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.38.

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.