Rockland Trust Co. Invests $364,000 in Sysco Co. (NYSE:SYY)

Rockland Trust Co. bought a new position in Sysco Co. (NYSE:SYY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,758 shares of the company's stock, valued at approximately $364,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp boosted its holdings in shares of Sysco by 11.1% in the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company's stock worth $2,130,617,000 after acquiring an additional 2,721,449 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company's stock worth $615,076,000 after buying an additional 1,782,180 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company's stock worth $521,874,000 after buying an additional 672,940 shares in the last quarter. Primecap Management Co. CA lifted its holdings in Sysco by 9.7% during the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company's stock worth $374,410,000 after buying an additional 422,954 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. lifted its holdings in Sysco by 8.5% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company's stock worth $366,789,000 after buying an additional 375,409 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the 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 transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the transaction, the senior vice president now owns 48,451 shares of the company's stock, valued at approximately $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 83,306 shares of company stock worth $6,485,050. Corporate insiders own 0.54% of the company's stock.

Sysco Trading Down 1.1 %

Shares of SYY traded down $0.83 during trading hours on Thursday, reaching $73.17. The stock had a trading volume of 3,015,270 shares, compared to its average volume of 2,209,565. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89. The firm has a 50-day moving average of $76.88 and a 200 day moving average of $75.77. The company has a market cap of $35.95 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.93 and a beta of 1.18.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data 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 quarter in the prior year, the company earned $1.07 EPS. Sysco's quarterly revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts expect that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Friday, January 3rd. Sysco's dividend payout ratio (DPR) is presently 52.44%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on SYY shares. Melius started 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 report on Wednesday, December 18th. StockNews.com raised Sysco from a "buy" rating to a "strong-buy" rating in a report on Monday. Jefferies Financial Group increased their price target on Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Finally, Wells Fargo & Company cut their price target on Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Sysco has an average rating of "Moderate Buy" and a consensus price target of $85.93.

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.