Greenleaf Trust Buys 3,468 Shares of Sysco Co. (NYSE:SYY)

Greenleaf Trust boosted its position in shares of Sysco Co. (NYSE:SYY) by 19.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,894 shares of the company’s stock after buying an additional 3,468 shares during the quarter. Greenleaf Trust’s holdings in Sysco were worth $1,598,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. DAVENPORT & Co LLC boosted its holdings in Sysco by 1.1% in the fourth quarter. DAVENPORT & Co LLC now owns 60,160 shares of the company’s stock valued at $4,600,000 after acquiring an additional 679 shares during the last quarter. Independence Bank of Kentucky boosted its stake in shares of Sysco by 413.5% in the 4th quarter. Independence Bank of Kentucky now owns 29,362 shares of the company’s stock valued at $2,245,000 after purchasing an additional 23,644 shares during the last quarter. Caprock Group LLC grew its position in shares of Sysco by 10.2% during the 4th quarter. Caprock Group LLC now owns 18,440 shares of the company’s stock worth $1,410,000 after buying an additional 1,702 shares during the period. Country Trust Bank raised its stake in shares of Sysco by 6.6% during the fourth quarter. Country Trust Bank now owns 447,847 shares of the company’s stock worth $34,242,000 after buying an additional 27,870 shares during the last quarter. Finally, Mediolanum International Funds Ltd lifted its holdings in Sysco by 24.7% in the fourth quarter. Mediolanum International Funds Ltd now owns 247,927 shares of the company’s stock valued at $18,885,000 after buying an additional 49,050 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Insider Activity at Sysco

In other news, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the sale, the director now owns 12,955 shares in the company, valued at $966,831.65. This represents a 18.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,270 shares of company stock valued at $6,181,946. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the subject of several recent research reports. Wells Fargo & Company dropped their target price 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. Jefferies Financial Group raised their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. UBS Group lowered their price target on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Truist Financial reduced their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.85.

Sysco Stock Performance

SYY opened at $72.79 on Monday. 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 $35.61 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 1.93 and a beta of 1.18. The business’s 50-day moving average price is $76.30 and its two-hundred day moving average price is $76.01. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the prior year, the company posted $0.89 earnings per share. Equities analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.80%. Sysco’s payout ratio is presently 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.