Field & Main Bank Sells 415 Shares of Sysco Co. (NYSE:SYY)

Field & Main Bank lessened its holdings in Sysco Co. (NYSE:SYY) by 5.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,965 shares of the company’s stock after selling 415 shares during the quarter. Field & Main Bank’s holdings in Sysco were worth $509,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. AdvisorNet Financial Inc grew its holdings in Sysco by 74.0% during the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after buying an additional 159 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in Sysco by 74.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock worth $28,000 after purchasing an additional 179 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Sysco during the fourth quarter valued at about $34,000. BluePath Capital Management LLC bought a new stake in shares of Sysco in the third quarter worth about $38,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of Sysco in the third quarter worth about $40,000. 83.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Sysco

In other news, CAO Neil Russell sold 1,722 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the transaction, the chief accounting officer now directly owns 24,082 shares in the company, valued at $1,926,560. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.58% of the company’s stock.

Sysco Trading Up 0.2 %

Sysco stock traded up $0.14 during trading hours on Monday, hitting $77.21. The company had a trading volume of 3,103,590 shares, compared to its average volume of 2,887,267. The firm has a market cap of $38.44 billion, a P/E ratio of 18.88, a P/E/G ratio of 1.56 and a beta of 1.15. The company has a 50-day moving average price of $79.12 and a two-hundred day moving average price of $75.03. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.80 and a current ratio of 1.37.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The company had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.32 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. Sysco’s revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Sysco Co. will post 4.33 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be paid a $0.51 dividend. The ex-dividend date is Friday, July 5th. This is a positive change from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a yield of 2.64%. Sysco’s dividend payout ratio is 48.90%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. BMO Capital Markets lifted their price objective on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Stephens upped their target price on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Barclays raised their price target on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Finally, StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.38.

Sysco 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.