AMG National Trust Bank Has $1.56 Million Position in Sysco Co. (NYSE:SYY)

AMG National Trust Bank boosted its holdings in Sysco Co. (NYSE:SYY) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,890 shares of the company’s stock after acquiring an additional 200 shares during the quarter. AMG National Trust Bank’s holdings in Sysco were worth $1,563,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC acquired a new position in shares of Sysco in the 2nd quarter worth approximately $25,000. First United Bank & Trust acquired a new position in Sysco during the fourth quarter worth $26,000. OFI Invest Asset Management bought a new position in shares of Sysco during the first quarter valued at $31,000. Burkett Financial Services LLC acquired a new stake in shares of Sysco in the 4th quarter valued at $30,000. Finally, Headlands Technologies LLC bought a new stake in shares of Sysco in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a report on Tuesday, May 28th. JPMorgan Chase & Co. reduced their target price on Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Bank of America dropped their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. UBS Group reduced their price objective on Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $85.27.

Sysco Trading Down 0.5 %

Shares of SYY opened at $77.16 on Monday. The stock’s fifty day simple moving average is $73.65 and its 200-day simple moving average is $75.90. The firm has a market capitalization of $38.42 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 2.00 and a beta of 1.18. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. During the same period in the prior year, the company posted $1.34 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. As a group, research analysts predict that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio is presently 49.76%.

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.