Sanibel Captiva Trust Company Inc. Has $1.68 Million Holdings in Sysco Co. (NYSE:SYY)

Sanibel Captiva Trust Company Inc. lessened its holdings in shares of Sysco Co. (NYSE:SYY) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,543 shares of the company’s stock after selling 1,115 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Sysco were worth $1,682,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of SYY. Capital Research Global Investors increased its position in shares of Sysco by 112.8% during the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after acquiring an additional 3,504,740 shares in the last quarter. ProShare Advisors LLC boosted its stake in Sysco by 103.0% in the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after acquiring an additional 2,408,226 shares during the last quarter. Swedbank AB purchased a new stake in shares of Sysco during the 1st quarter valued at approximately $178,824,000. Diamond Hill Capital Management Inc. lifted its stake in shares of Sysco by 49.8% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after buying an additional 1,997,895 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after buying an additional 1,782,180 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Price Performance

SYY opened at $73.80 on Friday. Sysco Co. has a 12-month low of $62.45 and a 12-month high of $82.89. 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 business’s fifty day simple moving average is $76.61 and its 200-day simple moving average is $75.17. The company has a market capitalization of $36.25 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 1.94 and a beta of 1.20.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The firm had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. During the same period in the prior year, the business posted $1.34 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities research analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s payout ratio is currently 52.44%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SYY shares. JPMorgan Chase & Co. upped their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Truist Financial reduced their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Morgan Stanley reduced their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Jefferies Financial Group increased their price target on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Sysco presently has an average rating of “Moderate Buy” and an average price target of $86.08.

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.