PNC Financial Services Group Inc. Has $39.33 Million Position in Sysco Co. (NYSE:SYY)

PNC Financial Services Group Inc. cut its holdings in Sysco Co. (NYSE:SYY) by 2.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 514,316 shares of the company’s stock after selling 10,349 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Sysco were worth $39,325,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of SYY. Ashton Thomas Securities LLC bought a new stake in Sysco in the 3rd quarter valued at $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Sysco in the third quarter valued at about $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Sysco in the fourth quarter valued at about $31,000. Sherman Asset Management Inc. acquired a new position in shares of Sysco during the fourth quarter worth about $31,000. Finally, SRS Capital Advisors Inc. grew its holdings in shares of Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after buying an additional 149 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Stock Up 1.9 %

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

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

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Friday, April 4th. Sysco’s payout ratio is 52.44%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SYY shares. Morgan Stanley cut their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Melius Research upgraded shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Melius initiated coverage on Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price on the stock. Finally, Barclays reduced their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.