Trust Co of the South Purchases 2,578 Shares of Sysco Co. (NYSE:SYY)

Trust Co of the South boosted its position in Sysco Co. (NYSE:SYY) by 85.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,607 shares of the company’s stock after purchasing an additional 2,578 shares during the quarter. Trust Co of the South’s holdings in Sysco were worth $438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYY. Capital World Investors boosted its position in shares of Sysco by 17.5% in the first quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock valued at $891,758,000 after acquiring an additional 1,637,232 shares during the period. Ameriprise Financial Inc. grew its position in shares of Sysco by 26.1% during the 2nd 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 in the last quarter. Capital Research Global Investors raised its position in shares of Sysco by 112.8% in the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after buying an additional 3,504,740 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of Sysco by 49.8% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after buying an additional 1,997,895 shares during the period. Finally, ProShare Advisors LLC grew its position in Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after buying an additional 2,408,226 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Trading Down 0.5 %

Shares of NYSE SYY opened at $77.38 on Thursday. The firm has a 50 day moving average price of $76.52 and a two-hundred day moving average price of $75.39. The stock has a market cap of $38.03 billion, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20.

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

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.64%. Sysco’s dividend payout ratio (DPR) is currently 49.76%.

Wall Street Analysts Forecast Growth

SYY has been the topic of several analyst reports. Bank of America reduced their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Barclays boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Morgan Stanley decreased their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.08.

About Sysco

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.