Fiduciary Trust Co Has $5.08 Million Stake in Sysco Co. (NYSE:SYY)

Fiduciary Trust Co grew its stake in shares of Sysco Co. (NYSE:SYY) by 0.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 66,495 shares of the company’s stock after purchasing an additional 196 shares during the period. Fiduciary Trust Co’s holdings in Sysco were worth $5,084,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. MV Capital Management Inc. raised its holdings in Sysco by 0.4% in the 4th quarter. MV Capital Management Inc. now owns 34,330 shares of the company’s stock valued at $2,625,000 after acquiring an additional 144 shares in the last quarter. Morton Community Bank increased its position in shares of Sysco by 0.4% during the fourth quarter. Morton Community Bank now owns 40,585 shares of the company’s stock valued at $3,103,000 after purchasing an additional 145 shares during the period. Nemes Rush Group LLC lifted its position in Sysco by 5.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company’s stock worth $201,000 after purchasing an additional 147 shares during the period. SRS Capital Advisors Inc. boosted its stake in 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. Finally, FineMark National Bank & Trust increased its holdings in Sysco by 1.8% in the 4th quarter. FineMark National Bank & Trust now owns 8,580 shares of the company’s stock valued at $656,000 after buying an additional 149 shares during the period. Institutional investors own 83.41% of the company’s stock.

Insider Activity at Sysco

In other news, Director Sheila Talton sold 356 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the transaction, the director now owns 12,738 shares of the company’s stock, valued at approximately $902,359.92. This trade represents a 2.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

SYY has been the subject of a number of analyst reports. Guggenheim reaffirmed a “buy” rating and set a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Morgan Stanley lowered their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Truist Financial cut their target price on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. BMO Capital Markets lowered their price target on Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. dropped their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.38.

Sysco Stock Down 1.2 %

Shares of NYSE:SYY opened at $70.77 on Friday. Sysco Co. has a 12 month low of $67.12 and a 12 month high of $82.23. The firm has a market cap of $34.31 billion, a P/E ratio of 18.19, a P/E/G ratio of 1.88 and a beta of 0.80. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The company’s 50-day moving average price is $72.16 and its two-hundred day moving average price is $74.13.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). Sysco had a net margin of 2.40% and a return on equity of 106.30%. The company had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. During the same period in the prior year, the business earned $0.96 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, research analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Thursday, July 3rd. This is a positive change from Sysco’s previous quarterly dividend of $0.51. Sysco’s dividend payout ratio is 55.96%.

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.