Sanibel Captiva Trust Company Inc. Increases Stake in Sysco Co. (NYSE:SYY)

Sanibel Captiva Trust Company Inc. increased its position in shares of Sysco Co. (NYSE:SYY) by 5.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,217 shares of the company’s stock after buying an additional 1,267 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Sysco were worth $1,967,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SYY. Rialto Wealth Management LLC increased its stake in shares of Sysco by 188.7% during the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock valued at $25,000 after buying an additional 217 shares during the period. Parvin Asset Management LLC purchased a new position in Sysco in the fourth quarter valued at about $29,000. Stonebridge Financial Group LLC purchased a new position in Sysco in the fourth quarter valued at about $31,000. Sherman Asset Management Inc. purchased a new position in Sysco in the fourth quarter valued at about $31,000. Finally, Flagship Wealth Advisors LLC purchased a new position in Sysco in the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.3%

Sysco stock opened at $75.47 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a 52 week low of $67.12 and a 52 week high of $82.23. The stock has a 50-day moving average price of $71.67 and a 200 day moving average price of $73.70. The company has a market capitalization of $36.58 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 1.88 and a beta of 0.81.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). The firm had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. Sysco had a return on equity of 106.30% and a net margin of 2.40%. Sysco’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 EPS. Sell-side analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.86%. This is a boost from Sysco’s previous quarterly dividend of $0.51. Sysco’s dividend payout ratio (DPR) is currently 55.96%.

Insider Buying and Selling

In related news, Director Sheila Talton sold 356 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the sale, the director now directly owns 12,738 shares in the company, valued at approximately $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SYY shares. BMO Capital Markets cut their target price on Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Wells Fargo & Company lowered their price target on Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. UBS Group lowered their price target on Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. raised their price target on Sysco from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, May 20th. Finally, Sanford C. Bernstein set a $87.00 price target on Sysco and gave the stock an “overweight” rating in a report on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

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.