Sysco Co. (NYSE:SYY) Shares Bought by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. increased its holdings in Sysco Co. (NYSE:SYY) by 15.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,906 shares of the company’s stock after purchasing an additional 1,476 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Sysco were worth $834,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp grew its holdings in Sysco by 11.1% in the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after buying an additional 2,721,449 shares during the period. ProShare Advisors LLC grew its holdings in Sysco by 103.0% in the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after purchasing an additional 2,408,226 shares during the period. Diamond Hill Capital Management Inc. increased its position in Sysco by 49.8% during the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after purchasing an additional 1,997,895 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Sysco by 26.1% during the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after purchasing an additional 1,782,180 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Sysco in the 3rd quarter valued at $137,900,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Greg D. Bertrand sold 48,027 shares of Sysco 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 completion of the transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,306 shares of company stock worth $6,485,050. Corporate insiders own 0.54% of the company’s stock.

Sysco Trading Down 0.9 %

Shares of SYY opened at $74.76 on Tuesday. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The stock has a 50-day moving average price of $77.03 and a 200 day moving average price of $75.73. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The company has a market capitalization of $36.72 billion, a P/E ratio of 19.22, a P/E/G ratio of 2.10 and a beta of 1.18.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.47 billion. During the same period in the previous year, the business posted $1.07 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. Sell-side analysts forecast that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.73%. Sysco’s payout ratio is 52.44%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SYY. Jefferies Financial Group upped their price objective 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 cut their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Finally, Melius started coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price on the stock. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $85.93.

Sysco Company 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.