Ledyard National Bank Acquires 216 Shares of Sysco Co. (NYSE:SYY)

Ledyard National Bank boosted its holdings in Sysco Co. (NYSE:SYY) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,076 shares of the company’s stock after purchasing an additional 216 shares during the period. Ledyard National Bank’s holdings in Sysco were worth $235,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Melius initiated coverage on Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target for the company. Melius Research upgraded Sysco to a “hold” rating in a report on Wednesday, December 18th. UBS Group cut their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Morgan Stanley decreased their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $84.38.

Sysco Price Performance

Shares of NYSE:SYY opened at $71.13 on Friday. The business has a fifty day moving average price of $75.90 and a 200-day moving average price of $75.92. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The company has a market capitalization of $34.80 billion, a PE ratio of 18.29, a PEG ratio of 1.93 and a beta of 1.18. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share 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 last year, the company posted $0.89 earnings per share. As a group, equities analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s payout ratio is 52.44%.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred 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 in the company, valued at $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,270 shares of company stock worth $6,181,946 over the last quarter. 0.54% of the stock is currently owned by insiders.

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.