CENTRAL TRUST Co lowered its holdings in shares of Sysco Co. (NYSE:SYY – Free Report) 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 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.
Get Our Latest Research Report on Sysco
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.
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