Coastline Trust Co Sells 5,682 Shares of Sysco Co. (NYSE:SYY)

Coastline Trust Co trimmed its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 16.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,100 shares of the company's stock after selling 5,682 shares during the period. Coastline Trust Co's holdings in Sysco were worth $2,225,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Stonebridge Financial Group LLC bought a new position in Sysco in the 4th quarter valued at $31,000. Flagship Wealth Advisors LLC bought a new stake in Sysco in the fourth quarter valued at approximately $31,000. Sherman Asset Management Inc. bought a new stake in Sysco in the fourth quarter valued at $31,000. SRS Capital Advisors Inc. grew its position in shares of Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after buying an additional 149 shares during the period. Finally, HHM Wealth Advisors LLC grew its position in Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock valued at $47,000 after purchasing an additional 321 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SYY has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Truist Financial decreased their target price on shares of Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley dropped their target price on Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price objective on Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Finally, StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $84.77.

Sysco Price Performance

Shares of NYSE SYY opened at $71.71 on Friday. The stock has a market capitalization of $35.08 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. Sysco Co. has a 52 week low of $67.12 and a 52 week high of $82.23. The firm has a 50-day simple moving average of $72.67 and a 200-day simple moving average of $74.56. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY - Get Free Report) last announced its 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 net margin of 2.40% and a return on equity of 106.30%. During the same quarter last year, the firm earned $0.89 earnings per share. On average, equities analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's payout ratio is currently 52.44%.

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.

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