Smithfield Trust Co Has $644,000 Stake in Sysco Co. (NYSE:SYY)

Smithfield Trust Co boosted its position in Sysco Co. (NYSE:SYYFree Report) by 10.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,789 shares of the company’s stock after purchasing an additional 851 shares during the period. Smithfield Trust Co’s holdings in Sysco were worth $644,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SYY. AdvisorNet Financial Inc lifted its holdings in Sysco by 74.0% during the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after buying an additional 159 shares during the period. Headlands Technologies LLC bought a new stake in Sysco in the fourth quarter valued at approximately $34,000. Milestone Investment Advisors LLC acquired a new stake in Sysco during the 3rd quarter valued at approximately $40,000. AllSquare Wealth Management LLC bought a new position in Sysco during the 3rd quarter worth approximately $42,000. Finally, BKM Wealth Management LLC acquired a new position in shares of Sysco in the 4th quarter worth approximately $42,000. 83.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the transaction, the chief accounting officer now owns 24,082 shares in the company, valued at approximately $1,926,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SYY. Truist Financial decreased their price objective 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. Piper Sandler lowered their target price on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. BMO Capital Markets increased their price target on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. UBS Group lowered their price objective on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.56.

Read Our Latest Research Report on Sysco

Sysco Stock Up 1.4 %

SYY traded up $1.02 during trading on Friday, hitting $76.17. 1,793,202 shares of the company’s stock were exchanged, compared to its average volume of 2,740,533. The stock has a market cap of $37.93 billion, a P/E ratio of 18.58, a PEG ratio of 1.93 and a beta of 1.16. The business’s 50 day moving average is $78.20 and its two-hundred day moving average is $75.44. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77.

Sysco (NYSE:SYYGet Free Report) last announced its quarterly 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. The business had revenue of $19.38 billion during the quarter, compared to the consensus estimate of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. Sysco’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 earnings per share. As a group, equities analysts expect that Sysco Co. will post 4.31 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.68%. This is an increase from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio is presently 48.78%.

About Sysco

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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