Country Trust Bank Purchases 42,018 Shares of Sysco Co. (NYSE:SYY)

Country Trust Bank boosted its position in shares of Sysco Co. (NYSE:SYY) by 11.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 419,977 shares of the company’s stock after purchasing an additional 42,018 shares during the period. Country Trust Bank owned about 0.08% of Sysco worth $32,783,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Elo Mutual Pension Insurance Co increased its holdings in shares of Sysco by 3.9% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 44,022 shares of the company’s stock valued at $3,219,000 after purchasing an additional 1,634 shares in the last quarter. Hancock Whitney Corp raised its position in shares of Sysco by 22.1% during the fourth quarter. Hancock Whitney Corp now owns 39,863 shares of the company’s stock worth $2,915,000 after acquiring an additional 7,217 shares during the last quarter. Ethic Inc. boosted its position in shares of Sysco by 20.6% during the fourth quarter. Ethic Inc. now owns 108,796 shares of the company’s stock worth $7,956,000 after purchasing an additional 18,558 shares in the last quarter. Jacobi Capital Management LLC raised its stake in Sysco by 1.1% during the 4th quarter. Jacobi Capital Management LLC now owns 22,839 shares of the company’s stock worth $1,670,000 after buying an additional 239 shares during the period. Finally, Nebula Research & Development LLC acquired a new position in Sysco in the fourth quarter valued at about $916,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

NYSE:SYY opened at $75.32 on Wednesday. The company has a market cap of $37.00 billion, a P/E ratio of 18.37, a P/E/G ratio of 1.96 and a beta of 1.20. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The firm’s fifty day moving average price is $76.68 and its two-hundred day moving average price is $75.22. Sysco Co. has a one year low of $62.40 and a one year high of $82.89.

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 analysts’ expectations of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.34 earnings per share. Equities analysts expect that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders 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 dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio is currently 49.76%.

Wall Street Analyst Weigh In

SYY has been the topic of several recent analyst reports. Bank of America cut their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Truist Financial dropped their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Morgan Stanley decreased their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Jefferies Financial Group boosted their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average price target of $86.08.

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.