Penobscot Investment Management Company Inc. Decreases Position in Sysco Co. (NYSE:SYY)

Penobscot Investment Management Company Inc. trimmed its holdings in shares of Sysco Co. (NYSE:SYY) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,070 shares of the company’s stock after selling 150 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Sysco were worth $846,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stonebridge Financial Group LLC purchased a new stake in Sysco during the 4th quarter valued at about $31,000. Sherman Asset Management Inc. bought a new stake in Sysco in the fourth quarter valued at approximately $31,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Sysco during the fourth quarter valued at approximately $31,000. SRS Capital Advisors Inc. grew its holdings in shares of Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after purchasing an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC raised its holdings in Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock valued at $47,000 after buying an additional 321 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SYY shares. Wells Fargo & Company boosted their price objective on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Jefferies Financial Group boosted their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Barclays cut their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. UBS Group decreased their target price on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Melius began coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target for the company. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.77.

Sysco Stock Performance

Shares of Sysco stock opened at $72.74 on Thursday. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33. The firm has a market capitalization of $35.58 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.88 and a beta of 1.11. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The business has a fifty day simple moving average of $72.95 and a two-hundred day simple moving average of $75.19.

Sysco (NYSE:SYY) last issued 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 net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the previous year, the company posted $0.89 earnings per share. On average, equities analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Friday, April 4th. Sysco’s payout ratio is 52.44%.

Insiders Place Their Bets

In other news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.

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.