CENTRAL TRUST Co Sells 1,218 Shares of Sysco Co. (NYSE:SYY)

CENTRAL TRUST Co lowered its holdings in shares of Sysco Co. (NYSE:SYY) by 26.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,341 shares of the company’s stock after selling 1,218 shares during the quarter. CENTRAL TRUST Co’s holdings in Sysco were worth $261,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. TruNorth Capital Management LLC purchased a new position in Sysco in the second quarter worth about $25,000. Armstrong Advisory Group Inc. lifted its stake 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 valued at $26,000 after purchasing an additional 310 shares during the last quarter. Fairscale Capital LLC purchased a new position in shares of Sysco in the 2nd quarter worth approximately $38,000. LRI Investments LLC bought a new position in shares of Sysco during the 1st quarter valued at approximately $45,000. Finally, Livelsberger Financial Advisory purchased a new stake in Sysco during the 3rd quarter valued at $47,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Down 0.6 %

Shares of NYSE:SYY opened at $73.92 on Friday. The business’s 50 day moving average is $76.42 and its 200 day moving average is $74.80. The stock has a market cap of $36.31 billion, a P/E ratio of 19.00, a price-to-earnings-growth ratio of 1.95 and a beta of 1.20. Sysco Co. has a 52-week low of $64.28 and a 52-week high of $82.89. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.34 EPS. Sell-side analysts predict that Sysco Co. will post 4.6 EPS for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were issued a $0.51 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.76%. Sysco’s dividend payout ratio is currently 52.44%.

Analysts Set New Price Targets

SYY has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Bank of America dropped their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, Barclays increased their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.08.

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.