Busey Bank Sells 882 Shares of Sysco Co. (NYSE:SYY)

Busey Bank cut its stake in Sysco Co. (NYSE:SYY) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,294 shares of the company’s stock after selling 882 shares during the quarter. Busey Bank’s holdings in Sysco were worth $2,852,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of analysts have weighed in on SYY shares. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. Guggenheim reissued a “buy” rating and issued a $85.00 price objective on shares of Sysco in a research report on Wednesday. Barclays reduced their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, Morgan Stanley lowered their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average target price of $85.21.

Insider Transactions at Sysco

In related 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 transaction of $3,698,079.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the 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 completion of the transaction, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,306 shares of company stock worth $6,485,050. Company insiders own 0.54% of the company’s stock.

Sysco Stock Down 0.4 %

Sysco stock opened at $71.96 on Thursday. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89. The business has a fifty day moving average price of $76.43 and a 200-day moving average price of $76.03. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The stock has a market capitalization of $35.35 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 2.04 and a beta of 1.18.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 101.04% and a net margin of 2.44%. During the same period in the prior year, the firm earned $0.89 earnings per share. Equities research analysts forecast that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were issued a $0.51 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.83%. Sysco’s dividend payout ratio is currently 52.44%.

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.