Wilmington Savings Fund Society FSB Decreases Position in Sysco Co. (NYSE:SYY)

Wilmington Savings Fund Society FSB decreased its stake in Sysco Co. (NYSE:SYY) by 0.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 208,490 shares of the company’s stock after selling 966 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Sysco were worth $15,941,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SYY. Armstrong Advisory Group Inc. increased its position in Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Sysco during the 3rd quarter worth about $26,000. Valley Wealth Managers Inc. bought a new position in Sysco during the 3rd quarter valued at about $31,000. Focused Wealth Management Inc purchased a new stake in Sysco in the 3rd quarter worth about $37,000. Finally, Canoe Financial LP bought a new stake in Sysco in the third quarter worth about $38,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of SYY stock opened at $71.13 on Friday. The firm has a market cap of $34.80 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.88 and a beta of 1.17. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The company’s 50 day moving average is $75.90 and its 200 day moving average is $75.92.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the prior year, the firm posted $0.89 EPS. On average, sell-side analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Friday, January 3rd. Sysco’s payout ratio is 52.44%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Melius began coverage on Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. Wells Fargo & Company reduced their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Truist Financial reduced their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Morgan Stanley lowered their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.38.

Insider Activity

In other news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction 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 transaction, the director now owns 12,955 shares in the company, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,270 shares of company stock worth $6,181,946. Corporate insiders own 0.54% of the company’s stock.

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.