Community Bank N.A. Decreases Stock Holdings in Sysco Co. (NYSE:SYY)

Community Bank N.A. reduced its holdings in shares of Sysco Co. (NYSE:SYY) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,665 shares of the company’s stock after selling 150 shares during the quarter. Community Bank N.A.’s holdings in Sysco were worth $268,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. AE Wealth Management LLC boosted its stake in shares of Sysco by 3.6% in the third quarter. AE Wealth Management LLC now owns 34,356 shares of the company’s stock valued at $2,269,000 after purchasing an additional 1,207 shares during the period. CX Institutional boosted its stake in shares of Sysco by 681.3% in the third quarter. CX Institutional now owns 33,113 shares of the company’s stock valued at $2,187,000 after purchasing an additional 28,875 shares during the period. DeDora Capital Inc. boosted its stake in shares of Sysco by 59.0% in the third quarter. DeDora Capital Inc. now owns 5,988 shares of the company’s stock valued at $395,000 after purchasing an additional 2,222 shares during the period. Cahaba Wealth Management Inc. boosted its stake in shares of Sysco by 9.9% in the third quarter. Cahaba Wealth Management Inc. now owns 3,265 shares of the company’s stock valued at $216,000 after purchasing an additional 294 shares during the period. Finally, WASHINGTON TRUST Co boosted its stake in shares of Sysco by 1.9% in the third quarter. WASHINGTON TRUST Co now owns 230,572 shares of the company’s stock valued at $15,229,000 after purchasing an additional 4,233 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at $1,926,560. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Sysco Stock Performance

Shares of NYSE:SYY traded down $0.55 on Thursday, reaching $76.74. 1,020,660 shares of the company’s stock were exchanged, compared to its average volume of 2,877,814. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The business’s 50-day moving average is $79.26 and its two-hundred day moving average is $74.67. The firm has a market capitalization of $38.20 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.57 and a beta of 1.15.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The business had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.32 billion. During the same quarter last year, the company earned $0.80 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that Sysco Co. will post 4.3 EPS for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be issued a $0.50 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.61%. Sysco’s dividend payout ratio (DPR) is presently 48.90%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. BMO Capital Markets increased their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Barclays increased their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Finally, Stephens increased their price objective on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $85.38.

About Sysco

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.