Cambridge Trust Co. lowered its stake in shares of Sysco Co. (NYSE:SYY – Get Rating) by 4.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,986 shares of the company’s stock after selling 359 shares during the quarter. Cambridge Trust Co.’s holdings in Sysco were worth $610,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brinker Capital Investments LLC grew its stake in Sysco by 3.2% during the 1st quarter. Brinker Capital Investments LLC now owns 3,851 shares of the company’s stock worth $314,000 after purchasing an additional 121 shares in the last quarter. ICA Group Wealth Management LLC grew its stake in Sysco by 2.5% during the 3rd quarter. ICA Group Wealth Management LLC now owns 4,944 shares of the company’s stock worth $350,000 after purchasing an additional 121 shares in the last quarter. EP Wealth Advisors LLC grew its stake in Sysco by 1.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 6,658 shares of the company’s stock worth $564,000 after purchasing an additional 123 shares in the last quarter. CoreFirst Bank & Trust grew its stake in Sysco by 15.5% during the 2nd quarter. CoreFirst Bank & Trust now owns 930 shares of the company’s stock worth $79,000 after purchasing an additional 125 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC grew its stake in Sysco by 0.3% during the 3rd quarter. RPg Family Wealth Advisory LLC now owns 38,429 shares of the company’s stock worth $3,160,000 after purchasing an additional 127 shares in the last quarter. 81.18% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently commented on SYY. Bank of America began coverage on Sysco in a research note on Thursday, March 9th. They set a “buy” rating and a $90.00 target price for the company. Wells Fargo & Company lowered their price objective on Sysco from $95.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, January 4th. Stephens reaffirmed an “overweight” rating and set a $90.00 price objective on shares of Sysco in a research report on Friday, January 13th. Deutsche Bank Aktiengesellschaft decreased their target price on Sysco from $83.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, February 1st. Finally, StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 10th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and a consensus target price of $89.67.
Sysco Stock Down 2.1 %
Sysco (NYSE:SYY – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.04). The company had revenue of $18.59 billion for the quarter, compared to analysts’ expectations of $18.59 billion. Sysco had a net margin of 1.93% and a return on equity of 140.94%. The firm’s revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 earnings per share. As a group, research analysts anticipate that Sysco Co. will post 4.04 EPS for the current year.
Sysco Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Thursday, April 6th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Wednesday, April 5th. Sysco’s dividend payout ratio (DPR) is 70.76%.
Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.
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