Grove Bank & Trust Buys 2,433 Shares of Sysco Co. (NYSE:SYY)

Grove Bank & Trust increased its position in Sysco Co. (NYSE:SYY) by 27.3% during the 4th quarter, Holdings Channel reports. The firm owned 11,343 shares of the company’s stock after acquiring an additional 2,433 shares during the quarter. Grove Bank & Trust’s holdings in Sysco were worth $867,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Armstrong Advisory Group Inc. boosted its position in Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Sysco in the third quarter worth $26,000. Valley Wealth Managers Inc. purchased a new stake in shares of Sysco during the third quarter valued at $31,000. Focused Wealth Management Inc acquired a new position in shares of Sysco in the 3rd quarter valued at $37,000. Finally, Canoe Financial LP purchased a new position in Sysco in the 3rd quarter worth $38,000. 83.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Sysco news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the sale, the director now directly 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 disclosure for this sale can be found here. Insiders sold a total of 83,306 shares of company stock valued at $6,485,050 over the last ninety days. 0.54% of the stock is owned by company insiders.

Sysco Stock Down 0.3 %

Sysco stock opened at $73.02 on Monday. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The firm has a market capitalization of $35.87 billion, a P/E ratio of 18.77, a P/E/G ratio of 1.93 and a beta of 1.18. The company has a 50-day simple moving average of $76.72 and a 200-day simple moving average of $75.81. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 EPS 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 firm had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. During the same quarter last year, the company posted $1.07 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts expect that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SYY shares. Melius Research raised Sysco to a “hold” rating in a report on Wednesday, December 18th. Melius started coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price for the company. Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, January 13th. Finally, 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. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and an average target price of $85.93.

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.