Sabal Trust CO Raises Stock Holdings in Sysco Corporation (NYSE:SYY)

Sabal Trust CO raised its position in shares of Sysco Corporation (NYSE:SYY) by 23.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,686 shares of the company’s stock after buying an additional 3,730 shares during the period. Sabal Trust CO’s holdings in Sysco were worth $1,477,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SYY. Boston Partners increased its holdings in Sysco by 143.7% during the 4th quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after purchasing an additional 7,184,754 shares during the period. Norges Bank bought a new stake in shares of Sysco in the 4th quarter worth approximately $450,441,000. Capital Research Global Investors grew its position in shares of Sysco by 27.3% in the 4th quarter. Capital Research Global Investors now owns 8,991,476 shares of the company’s stock worth $687,488,000 after buying an additional 1,928,002 shares during the last quarter. Mondrian Investment Partners LTD purchased a new position in shares of Sysco during the fourth quarter valued at approximately $123,928,000. Finally, Canoe Financial LP raised its holdings in shares of Sysco by 29,610.4% during the first quarter. Canoe Financial LP now owns 1,431,149 shares of the company’s stock valued at $107,393,000 after acquiring an additional 1,426,332 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 356 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the transaction, the director now owns 12,738 shares in the company, valued at approximately $902,359.92. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.54% of the stock is owned by insiders.

Sysco Price Performance

Shares of NYSE SYY opened at $75.13 on Thursday. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.76 and a current ratio of 1.26. The company has a 50 day simple moving average of $72.67 and a two-hundred day simple moving average of $73.48. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The company has a market capitalization of $36.42 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 2.46 and a beta of 0.81.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). Sysco had a net margin of 2.36% and a return on equity of 107.96%. The company had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same period last year, the business earned $0.96 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. Analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Thursday, July 3rd. This is a positive change from Sysco’s previous quarterly dividend of $0.51. Sysco’s payout ratio is currently 52.85%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, May 20th. Wells Fargo & Company cut their target price on shares of Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Wall Street Zen cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. BMO Capital Markets lowered their price objective on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Finally, Barclays cut their price objective on Sysco from $87.00 to $77.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Sysco Company 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.