FineMark National Bank & Trust Acquires 149 Shares of Sysco Co. (NYSE:SYY)

FineMark National Bank & Trust raised its holdings in Sysco Co. (NYSE:SYY) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,580 shares of the company’s stock after acquiring an additional 149 shares during the quarter. FineMark National Bank & Trust’s holdings in Sysco were worth $656,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Buckley Wealth Management LLC boosted its position in shares of Sysco by 0.8% in the 4th quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock worth $1,391,000 after purchasing an additional 150 shares during the last quarter. WR Wealth Planners LLC boosted its holdings in Sysco by 9.9% during the fourth quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock worth $326,000 after buying an additional 386 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Sysco by 7.7% during the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after buying an additional 8,891 shares during the period. Clark & Stuart Inc bought a new stake in shares of Sysco in the 4th quarter valued at about $7,613,000. Finally, Kovitz Investment Group Partners LLC raised its position in shares of Sysco by 76.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 135,362 shares of the company’s stock valued at $10,256,000 after acquiring an additional 58,430 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Activity

In other news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Melius started coverage on shares of Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Wells Fargo & Company lifted their target price on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Morgan Stanley lowered their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, Guggenheim reiterated a “buy” rating and set a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and an average target price of $84.77.

Sysco Stock Performance

Shares of SYY opened at $70.38 on Wednesday. The stock has a market capitalization of $34.43 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 1.88 and a beta of 1.11. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33. The firm has a fifty day simple moving average of $72.98 and a 200 day simple moving average of $75.21. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the previous year, the business posted $0.89 earnings per share. Research analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio is currently 52.44%.

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.