City Holding Co. Sells 737 Shares of Sysco Co. (NYSE:SYY)

City Holding Co. reduced its stake in shares of Sysco Co. (NYSE:SYY) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,141 shares of the company’s stock after selling 737 shares during the period. City Holding Co.’s holdings in Sysco were worth $1,540,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYY. Armstrong Advisory Group Inc. lifted its position in shares of Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares during the period. Ashton Thomas Securities LLC acquired a new position in Sysco in the third quarter valued at $26,000. Valley Wealth Managers Inc. bought a new stake in Sysco during the third quarter valued at $31,000. Focused Wealth Management Inc bought a new position in shares of Sysco in the 3rd quarter worth about $37,000. Finally, Fairscale Capital LLC acquired a new position in shares of Sysco in the 2nd quarter valued at about $38,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

NYSE SYY opened at $73.02 on Monday. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The company has a fifty day moving average price of $76.72 and a 200-day moving average price of $75.81. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The firm has a market cap of $35.87 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.93 and a beta of 1.18.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.04). The firm had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. Sysco’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 EPS. As a group, equities research analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Insider Buying and Selling

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was 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. The trade was a 11.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction dated 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 transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. The trade was a 46.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,306 shares of company stock worth $6,485,050. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SYY. Melius began coverage on Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price for the company. Wells Fargo & Company lowered their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 13th. Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Finally, Jefferies Financial Group upped their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.