Wesbanco Bank Inc. lowered its position in Sysco Co. (NYSE:SYY – Free Report) by 15.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,058 shares of the company’s stock after selling 1,665 shares during the period. Wesbanco Bank Inc.’s holdings in Sysco were worth $693,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the business. Fortem Financial Group LLC boosted its stake in Sysco by 3.6% in the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock worth $296,000 after purchasing an additional 136 shares in the last quarter. Koshinski Asset Management Inc. lifted its position in Sysco by 3.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after buying an additional 146 shares in the last quarter. Cable Hill Partners LLC grew its holdings in Sysco by 3.9% during the 3rd quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock worth $316,000 after acquiring an additional 152 shares during the last quarter. Brooklyn Investment Group increased its position in Sysco by 12.3% in the 4th quarter. Brooklyn Investment Group now owns 1,410 shares of the company’s stock valued at $108,000 after acquiring an additional 154 shares in the last quarter. Finally, Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group raised its stake in shares of Sysco by 1.1% in the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 17,045 shares of the company’s stock worth $1,217,000 after acquiring an additional 178 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, SVP Eve M. Mcfadden sold 4,036 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. The trade was a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 completion of the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. The trade was a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 83,306 shares of company stock worth $6,485,050 over the last three months. Corporate insiders own 0.54% of the company’s stock.
Sysco Stock Performance
Sysco (NYSE:SYY – Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. During the same quarter in the prior year, the firm posted $1.07 earnings per share. Sysco’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, research analysts forecast that Sysco Co. will post 4.57 earnings per share for the current year.
Sysco Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Friday, January 3rd. Sysco’s dividend payout ratio is 52.44%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on SYY. Jefferies Financial Group raised their price target on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Melius Research upgraded Sysco to a “hold” rating in a research report on Wednesday, December 18th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, January 13th. Morgan Stanley cut their target price on shares of Sysco from $82.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company lowered their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.79.
Get Our Latest Research Report on Sysco
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.
Read More
- Five stocks we like better than Sysco
- How to Calculate Inflation Rate
- Market Momentum: 3 Stocks Poised for Significant Breakouts
- P/E Ratio Calculation: How to Assess Stocks
- Kinder Morgan’s Uptrend is Only Half Over: New Highs Are Coming
- What is the Nikkei 225 index?
- Momentum Builders: 3 Stocks Positioned to Shine This Quarter
Receive News & Ratings for Sysco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco and related companies with MarketBeat.com's FREE daily email newsletter.