Community Bank N.A. Grows Stock Holdings in SYSCO Co. (NYSE:SYY)

Community Bank N.A. raised its stake in SYSCO Co. (NYSE:SYY) by 8.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,407 shares of the company’s stock after buying an additional 2,762 shares during the period. Community Bank N.A.’s holdings in SYSCO were worth $1,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. TFG Advisers LLC purchased a new stake in SYSCO in the 4th quarter valued at about $34,000. Financial Management Professionals Inc. purchased a new stake in shares of SYSCO in the 2nd quarter worth approximately $32,000. Westside Investment Management Inc. purchased a new stake in shares of SYSCO in the 1st quarter worth approximately $29,000. Balentine LLC purchased a new stake in shares of SYSCO in the 1st quarter worth approximately $31,000. Finally, Key Financial Inc purchased a new stake in shares of SYSCO in the 1st quarter worth approximately $34,000. 79.35% of the stock is owned by institutional investors.

SYY has been the subject of several research reports. Credit Suisse Group lowered their price target on shares of SYSCO from $67.00 to $63.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Wells Fargo & Co raised shares of SYSCO from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $50.00 to $70.00 in a research report on Friday, June 5th. Piper Sandler reaffirmed a “buy” rating and issued a $64.00 price target on shares of SYSCO in a research report on Wednesday, July 1st. JPMorgan Chase & Co. upped their price target on shares of SYSCO from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Finally, Zacks Investment Research cut shares of SYSCO from a “hold” rating to a “sell” rating and set a $62.00 target price for the company. in a research report on Saturday, May 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $69.36.

In related news, Director Joshua D. Frank purchased 600,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were acquired at an average price of $47.42 per share, for a total transaction of $28,452,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Trian Fund Management, L.P. purchased 703,700 shares of the business’s stock in a transaction on Monday, May 18th. The shares were bought at an average price of $51.38 per share, for a total transaction of $36,156,106.00. The disclosure for this purchase can be found here. Corporate insiders own 5.24% of the company’s stock.

NYSE:SYY traded down $0.74 during midday trading on Friday, reaching $52.85. 3,070,070 shares of the stock traded hands, compared to its average volume of 2,432,736. SYSCO Co. has a 12-month low of $26.00 and a 12-month high of $85.98. The business has a 50-day moving average of $54.03 and a two-hundred day moving average of $58.98. The company has a debt-to-equity ratio of 5.21, a quick ratio of 0.93 and a current ratio of 1.49. The stock has a market capitalization of $26.83 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 2.14 and a beta of 1.12.

SYSCO (NYSE:SYY) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.08). SYSCO had a net margin of 2.30% and a return on equity of 73.70%. The company had revenue of $13.70 billion for the quarter, compared to analyst estimates of $14.04 billion. During the same quarter in the previous year, the company posted $0.79 EPS. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. Research analysts anticipate that SYSCO Co. will post 1.97 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd were paid a dividend of $0.45 per share. The ex-dividend date was Wednesday, July 1st. This represents a $1.80 dividend on an annualized basis and a yield of 3.41%. SYSCO’s payout ratio is 50.70%.

About SYSCO

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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