First Hawaiian Bank Acquires 4,393 Shares of Sysco Co. (NYSE:SYY)

First Hawaiian Bank increased its holdings in shares of Sysco Co. (NYSE:SYY) by 16.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,364 shares of the company’s stock after purchasing an additional 4,393 shares during the quarter. First Hawaiian Bank’s holdings in Sysco were worth $2,398,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Armstrong Advisory Group Inc. increased its position in shares of 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 in the last quarter. Ashton Thomas Securities LLC bought a new position in Sysco during the 3rd quarter worth about $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sysco in the 3rd quarter valued at about $31,000. Focused Wealth Management Inc bought a new stake in shares of Sysco in the third quarter valued at about $37,000. Finally, Fairscale Capital LLC acquired a new position in shares of Sysco during the second quarter worth about $38,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SYY shares. Wells Fargo & Company dropped their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Melius began coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.93.

Insider Buying and Selling

In other news, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Greg D. Bertrand sold 21,844 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the completion of the transaction, the executive vice president now owns 60,581 shares in the company, valued at $4,846,480. This trade represents a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,306 shares of company stock valued at $6,485,050. Insiders own 0.54% of the company’s stock.

Sysco Stock Up 0.3 %

SYY stock opened at $74.80 on Thursday. The business’s 50 day simple moving average is $77.05 and its 200 day simple moving average is $75.73. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89. The firm has a market capitalization of $36.74 billion, a PE ratio of 19.23, a PEG ratio of 2.10 and a beta of 1.18. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. During the same period in the previous year, the company earned $1.07 earnings per share. Sysco’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, research analysts anticipate that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.73%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

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.