Iowa State Bank Has $1.42 Million Stock Position in Sysco Co. (NYSE:SYY)

Iowa State Bank reduced its holdings in Sysco Co. (NYSE:SYY) by 9.1% in the 1st quarter, Holdings Channel reports. The fund owned 18,873 shares of the company’s stock after selling 1,893 shares during the period. Iowa State Bank’s holdings in Sysco were worth $1,416,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SYY. Parvin Asset Management LLC acquired a new position in shares of Sysco in the 4th quarter valued at about $29,000. Stonebridge Financial Group LLC purchased a new position in Sysco during the fourth quarter valued at approximately $31,000. Sherman Asset Management Inc. purchased a new position in Sysco during the fourth quarter valued at approximately $31,000. Flagship Wealth Advisors LLC acquired a new position in Sysco in the 4th quarter valued at approximately $31,000. Finally, SRS Capital Advisors Inc. lifted its position in Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after buying an additional 149 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SYY shares. UBS Group decreased their target price on shares of Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 price objective on Sysco and gave the stock an “overweight” rating in a report on Tuesday, April 22nd. BMO Capital Markets reduced their price objective on Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Citigroup assumed coverage on Sysco in a research report on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their price target on Sysco from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 20th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Sysco Price Performance

NYSE SYY opened at $72.99 on Friday. Sysco Co. has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The stock’s 50-day moving average is $71.73 and its two-hundred day moving average is $73.75. The firm has a market cap of $35.38 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80. 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 (NYSE:SYY) last issued 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 2.40% and a return on equity of 106.30%. The company had revenue of $19.60 billion during the quarter, compared to the consensus estimate of $20.11 billion. During the same period in the previous year, the business posted $0.96 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. On average, analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company 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 is a positive change from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.96%. Sysco’s dividend payout ratio (DPR) is currently 55.96%.

Insider Activity

In related news, Director Sheila Talton sold 356 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were 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 of the company’s stock, valued at approximately $902,359.92. This represents a 2.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

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.