Fiduciary Trust Co Sells 2,026 Shares of Sysco Co. (NYSE:SYY)

Fiduciary Trust Co cut its holdings in Sysco Co. (NYSE:SYY) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,451 shares of the company’s stock after selling 2,026 shares during the quarter. Fiduciary Trust Co’s holdings in Sysco were worth $6,322,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First United Bank & Trust bought a new position in shares of Sysco in the 4th quarter valued at $26,000. AdvisorNet Financial Inc boosted its stake in shares of Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Sysco during the fourth quarter worth about $34,000. JFS Wealth Advisors LLC increased its stake in shares of Sysco by 39.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $37,000 after buying an additional 141 shares during the period. Finally, Milestone Investment Advisors LLC bought a new position in Sysco in the 3rd quarter valued at approximately $40,000. 83.41% of the stock is owned by institutional investors.

Sysco Stock Down 1.4 %

Shares of SYY stock traded down $1.00 during trading hours on Wednesday, reaching $71.47. The company had a trading volume of 4,139,280 shares, compared to its average volume of 2,982,777. The company has a market cap of $35.59 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 2.03 and a beta of 1.16. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The business has a fifty day simple moving average of $76.76 and a 200-day simple moving average of $76.35.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The firm had revenue of $19.38 billion during the quarter, compared to analyst estimates of $19.74 billion. During the same quarter in the prior year, the business posted $0.90 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. On average, research analysts expect that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 annualized dividend and a yield of 2.85%. This is a positive change from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio is presently 48.78%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. UBS Group cut their price objective on Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Truist Financial decreased their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.10.

Insider Buying and Selling

In related news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is currently owned by corporate insiders.

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.