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

FineMark National Bank & Trust boosted its holdings in Sysco Co. (NYSE:SYY) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,580 shares of the company’s stock after buying an additional 149 shares during the period. FineMark National Bank & Trust’s holdings in Sysco were worth $656,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new position in Sysco during the fourth quarter worth $31,000. Sherman Asset Management Inc. bought a new position in shares of Sysco during the 4th quarter worth about $31,000. Flagship Wealth Advisors LLC acquired a new position in shares of Sysco during the fourth quarter valued at about $31,000. SRS Capital Advisors Inc. lifted its stake in shares of Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after buying an additional 149 shares during the period. Finally, HHM Wealth Advisors LLC grew its position in Sysco by 107.4% during the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after buying an additional 321 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. UBS Group reduced their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Jefferies Financial Group boosted their price target on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Barclays reduced their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, Morgan Stanley lowered their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is currently owned by company insiders.

Sysco Stock Down 1.5 %

NYSE SYY opened at $70.38 on Wednesday. The stock’s 50 day simple moving average is $72.98 and its 200 day simple moving average is $75.21. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a one year low of $69.03 and a one year high of $82.33. The firm has a market cap of $34.43 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the firm earned $0.89 earnings per share. As a group, sell-side analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

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

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.