Rockland Trust Co. Buys Shares of 4,758 Sysco Co. (NYSE:SYY)

Rockland Trust Co. acquired a new position in shares of Sysco Co. (NYSE:SYY) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 4,758 shares of the company’s stock, valued at approximately $364,000.

Several other large investors have also bought and sold shares of the business. Accurate Wealth Management LLC lifted its holdings in shares of Sysco by 5.8% in the fourth quarter. Accurate Wealth Management LLC now owns 34,697 shares of the company’s stock worth $2,553,000 after acquiring an additional 1,899 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in Sysco by 25.3% during the 4th quarter. Rosenberg Matthew Hamilton now owns 1,860 shares of the company’s stock worth $142,000 after purchasing an additional 376 shares in the last quarter. Code Waechter LLC bought a new position in Sysco in the 4th quarter valued at approximately $207,000. Exeter Financial LLC boosted its position in Sysco by 4.1% in the fourth quarter. Exeter Financial LLC now owns 17,557 shares of the company’s stock valued at $1,342,000 after buying an additional 686 shares in the last quarter. Finally, First Financial Corp IN grew its stake in shares of Sysco by 4.0% during the fourth quarter. First Financial Corp IN now owns 8,218 shares of the company’s stock worth $628,000 after buying an additional 319 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Sysco

In related news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. The trade was a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the sale, the director now directly owns 12,955 shares of the company’s stock, valued at $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. In the last quarter, insiders have sold 83,306 shares of company stock valued at $6,485,050. 0.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on SYY. Melius initiated coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday. Jefferies Financial Group boosted their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Wells Fargo & Company cut their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.93.

Sysco Trading Up 0.2 %

SYY opened at $74.09 on Thursday. The company has a fifty day moving average price of $76.94 and a two-hundred day moving average price of $75.78. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89. The company has a market cap of $36.39 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 2.10 and a beta of 1.18. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $20.47 billion. During the same period in the previous year, the firm earned $1.07 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be issued a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.75%. Sysco’s dividend payout ratio is presently 52.44%.

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.