Glenview Trust co Has $23.88 Million Stock Holdings in Sysco Co. (NYSE:SYY)

Glenview Trust co reduced its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 312,262 shares of the company's stock after selling 5,817 shares during the period. Glenview Trust co owned 0.06% of Sysco worth $23,876,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SYY. Valley Wealth Managers Inc. bought a new stake in shares of Sysco during the 3rd quarter worth $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Sysco during the 4th quarter worth $31,000. Sherman Asset Management Inc. acquired a new position in Sysco during the 4th quarter valued at $31,000. SRS Capital Advisors Inc. raised its stake in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after purchasing an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC raised its stake 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 owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on SYY. StockNews.com upgraded shares of Sysco from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Guggenheim reiterated a "buy" rating and set a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Melius Research upgraded shares of Sysco to a "hold" rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. cut their target price on shares of Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Finally, Morgan Stanley cut their target price on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.77.

Remove Ads

Sysco Price Performance

Shares of Sysco stock traded down $1.27 during mid-day trading on Thursday, reaching $71.12. 5,122,399 shares of the stock were exchanged, compared to its average volume of 3,117,807. The company has a market cap of $34.79 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm has a 50-day simple moving average of $73.22 and a 200 day simple moving average of $75.44. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting 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 in the previous year, the company posted $0.89 earnings per share. On average, sell-side analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's dividend payout ratio (DPR) is currently 52.44%.

Insiders Place Their Bets

In other news, EVP Greg D. Bertrand sold 48,027 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares of the company's stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.54% of the company's stock.

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.