First Hawaiian Bank Purchases 4,393 Shares of Sysco Co. (NYSE:SYY)

First Hawaiian Bank increased its position in Sysco Co. (NYSE:SYY) by 16.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,364 shares of the company’s stock after purchasing an additional 4,393 shares during the quarter. First Hawaiian Bank’s holdings in Sysco were worth $2,398,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. National Pension Service grew its stake in shares of Sysco by 15.6% in the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after purchasing an additional 166,798 shares during the period. New England Asset Management Inc. grew its position in Sysco by 12.7% in the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after acquiring an additional 14,810 shares during the period. Empowered Funds LLC grew its position in Sysco by 29.0% in the third quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock valued at $6,115,000 after acquiring an additional 17,587 shares during the period. Diamond Hill Capital Management Inc. raised its stake in Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after acquiring an additional 672,940 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in shares of Sysco by 7.7% during the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock valued at $9,706,000 after acquiring an additional 8,891 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of NYSE:SYY opened at $74.80 on Thursday. The stock has a market capitalization of $36.74 billion, a P/E ratio of 19.23, a P/E/G ratio of 2.10 and a beta of 1.18. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89. The business has a 50-day moving average price of $77.05 and a two-hundred day moving average price of $75.73.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. During the same quarter in the prior year, the company earned $1.07 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Equities analysts predict that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.73%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insider Activity at Sysco

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the business’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 transaction of $519,920.00. Following the completion of the transaction, the senior vice president now owns 48,451 shares in the company, valued at approximately $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,306 shares of company stock worth $6,485,050. 0.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SYY has been the topic of several analyst reports. Wells Fargo & Company lowered their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Melius started coverage on shares of Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. Melius Research upgraded shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Jefferies Financial Group increased their price target on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average price target of $85.93.

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.