Trust Co. of Toledo NA OH Sells 238 Shares of Sysco Co. (NYSE:SYY)

Trust Co. of Toledo NA OH trimmed its holdings in Sysco Co. (NYSE:SYY) by 5.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,539 shares of the company’s stock after selling 238 shares during the period. Trust Co. of Toledo NA OH’s holdings in Sysco were worth $368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in SYY. Capital World Investors purchased a new stake in shares of Sysco in the fourth quarter valued at about $683,599,000. Norges Bank purchased a new stake in Sysco during the fourth quarter worth about $450,794,000. Capital Research Global Investors purchased a new stake in Sysco during the fourth quarter worth about $227,241,000. The Manufacturers Life Insurance Company increased its holdings in Sysco by 132.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock worth $267,177,000 after buying an additional 2,084,501 shares during the last quarter. Finally, Fiduciary Management Inc. WI increased its stake in shares of Sysco by 92.1% in the fourth quarter. Fiduciary Management Inc. WI now owns 2,619,940 shares of the company’s stock worth $191,596,000 after purchasing an additional 1,255,908 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Stock Down 0.4 %

Shares of NYSE SYY opened at $72.68 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The firm’s fifty day moving average is $74.33 and its 200 day moving average is $76.43. The company has a market cap of $36.19 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 2.08 and a beta of 1.17.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. The company had revenue of $19.38 billion for the quarter, compared to the consensus estimate of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 earnings per share. On average, equities research analysts expect that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a dividend of $0.51 per share. This is an increase from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Friday, July 5th. Sysco’s payout ratio is presently 49.76%.

Analyst Ratings Changes

SYY has been the subject of a number of analyst reports. UBS Group cut their price objective on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Barclays decreased their price target on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. BMO Capital Markets decreased their price target on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 23rd. Finally, Morgan Stanley decreased their price target on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $85.10.

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.