CENTRAL TRUST Co Trims Holdings in Sysco Co. (NYSE:SYY)

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

A number of other institutional investors and hedge funds have also made changes to their positions in the business. ORG Partners LLC raised its stake in Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after buying an additional 6,855 shares during the last quarter. Mizuho Markets Americas LLC increased its position in shares of Sysco by 102.1% during the first quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock valued at $11,355,000 after acquiring an additional 70,660 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in Sysco by 11.6% during the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock valued at $12,577,000 after purchasing an additional 18,296 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Sysco in the 1st quarter worth $1,677,000. Finally, Shell Asset Management Co. raised its stake in shares of Sysco by 205.0% in the first quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock worth $1,161,000 after purchasing an additional 9,615 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SYY. Jefferies Financial Group lifted their price objective on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Barclays increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Morgan Stanley decreased their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Finally, Bank of America reduced their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $86.08.

Sysco Stock Performance

Shares of NYSE SYY opened at $73.92 on Friday. The stock has a market cap of $36.31 billion, a PE ratio of 19.00, a price-to-earnings-growth ratio of 1.95 and a beta of 1.20. Sysco Co. has a 1 year low of $64.28 and a 1 year high of $82.89. The firm has a fifty day moving average price of $76.42 and a 200-day moving average price of $74.80. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69.

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

Sysco Announces Dividend

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

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.