Sysco Co. (NYSE:SYY) Position Lessened by FineMark National Bank & Trust

FineMark National Bank & Trust trimmed its position in shares of Sysco Co. (NYSE:SYY) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,624 shares of the company’s stock after selling 141 shares during the period. FineMark National Bank & Trust’s holdings in Sysco were worth $616,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. TruNorth Capital Management LLC bought a new position in Sysco during the second quarter valued at about $25,000. First United Bank & Trust bought a new position in Sysco during the fourth quarter valued at about $26,000. Verity & Verity LLC acquired a new stake in shares of Sysco in the first quarter valued at about $26,000. Burkett Financial Services LLC acquired a new stake in shares of Sysco in the fourth quarter valued at about $30,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Sysco in the first quarter valued at about $31,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Performance

NYSE:SYY opened at $78.98 on Friday. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The firm has a 50 day moving average of $74.47 and a 200-day moving average of $75.84. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The stock has a market capitalization of $38.82 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20.

Sysco (NYSE:SYY) last posted 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 during the quarter, compared to analysts’ expectations of $20.51 billion. During the same quarter in the previous year, the company posted $1.34 earnings per share. Sysco’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.58%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

Analyst Ratings Changes

SYY has been the topic of several research analyst reports. Bank of America lowered their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday. Morgan Stanley decreased their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Tuesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.27.

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.