NBT Bank N A NY Sells 282 Shares of Sysco Co. (NYSE:SYY)

NBT Bank N A NY reduced its holdings in shares of Sysco Co. (NYSE:SYY) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,466 shares of the company’s stock after selling 282 shares during the quarter. NBT Bank N A NY’s holdings in Sysco were worth $1,794,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SYY. State Street Corp lifted its position in shares of Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after buying an additional 2,721,449 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Sysco during the 3rd quarter worth $137,900,000. Raymond James Financial Inc. bought a new stake in shares of Sysco during the 4th quarter worth $97,078,000. Nordea Investment Management AB increased its holdings in Sysco by 52.3% in the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock worth $208,666,000 after purchasing an additional 933,327 shares in the last quarter. Finally, Amundi increased its holdings in Sysco by 42.2% in the 4th quarter. Amundi now owns 2,730,010 shares of the company’s stock worth $204,341,000 after purchasing an additional 809,582 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SYY shares. Truist Financial lowered their target price on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Jefferies Financial Group upped 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. Wells Fargo & Company upped their target price on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, Melius started coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target for the company. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.77.

Sysco Stock Up 0.5 %

Shares of Sysco stock opened at $76.96 on Tuesday. Sysco Co. has a one year low of $69.03 and a one year high of $82.33. 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 stock’s 50-day moving average is $73.48 and its 200 day moving average is $75.60. The firm has a market cap of $37.65 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter last year, the business posted $0.89 EPS. Equities research analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.65%. Sysco’s payout ratio is currently 52.44%.

Insiders Place Their Bets

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

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.