Farmers National Bank Has $240,000 Stake in SYSCO Co. (SYY)
Farmers National Bank continued to hold its position in shares of SYSCO Co. (NYSE:SYY) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,903 shares of the company’s stock at the end of the first quarter. Farmers National Bank’s holdings in SYSCO were worth $240,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in SYY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of SYSCO by 27.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,866 shares of the company’s stock valued at $1,914,000 after buying an additional 8,021 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in shares of SYSCO by 402.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 103,770 shares of the company’s stock valued at $5,388,000 after buying an additional 83,136 shares during the period. Suntrust Banks Inc. raised its stake in shares of SYSCO by 2.6% in the first quarter. Suntrust Banks Inc. now owns 242,423 shares of the company’s stock valued at $12,585,000 after buying an additional 6,218 shares during the period. Citizens Financial Group Inc. RI raised its stake in shares of SYSCO by 1,233.5% in the first quarter. Citizens Financial Group Inc. RI now owns 157,557 shares of the company’s stock valued at $8,181,000 after buying an additional 145,742 shares during the period. Finally, Northern Capital Management LLC acquired a new stake in shares of SYSCO during the first quarter valued at about $728,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.
Shares of SYSCO Co. (NYSE:SYY) traded down 0.633% during midday trading on Thursday, hitting $50.995. 603,963 shares of the stock traded hands. The stock has a 50 day moving average of $51.04 and a 200 day moving average of $52.64. SYSCO Co. has a 1-year low of $47.15 and a 1-year high of $57.07. The company has a market capitalization of $27.29 billion, a P/E ratio of 26.882 and a beta of 0.52.
SYSCO (NYSE:SYY) last issued its quarterly earnings results on Monday, May 8th. The company reported $0.51 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.51. SYSCO had a return on equity of 39.77% and a net margin of 1.76%. The company had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.14 billion. During the same quarter last year, the business earned $0.46 earnings per share. SYSCO’s revenue was up 12.7% on a year-over-year basis. Equities research analysts predict that SYSCO Co. will post $2.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Thursday, October 5th. SYSCO’s payout ratio is currently 69.47%.
Several equities research analysts have issued reports on SYY shares. Zacks Investment Research raised shares of SYSCO from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Tuesday, May 9th. Loop Capital started coverage on shares of SYSCO in a report on Monday, May 15th. They issued a “buy” rating and a $61.00 price target on the stock. BMO Capital Markets reissued a “buy” rating and issued a $60.00 price target on shares of SYSCO in a report on Tuesday, June 27th. Bank of America Corporation reissued a “buy” rating and issued a $61.00 price target on shares of SYSCO in a report on Monday, June 26th. Finally, Wells Fargo & Company reissued a “buy” rating on shares of SYSCO in a report on Friday, June 23rd. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $56.02.
In related news, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $54.22, for a total value of $1,626,600.00. Following the transaction, the chief executive officer now owns 406,725 shares in the company, valued at $22,052,629.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $50.82, for a total value of $396,396.00. Following the completion of the transaction, the executive vice president now owns 58,776 shares in the company, valued at approximately $2,986,996.32. The disclosure for this sale can be found here. Insiders sold 152,400 shares of company stock worth $8,121,300 in the last 90 days. 8.81% of the stock is owned by company insiders.
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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