Bath Savings Trust Co Has $4.30 Million Stock Holdings in Sysco Co. (NYSE:SYY)

Bath Savings Trust Co trimmed its stake in Sysco Co. (NYSE:SYY - Free Report) by 7.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,278 shares of the company's stock after selling 4,900 shares during the period. Bath Savings Trust Co's holdings in Sysco were worth $4,298,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Parvin Asset Management LLC acquired a new stake in shares of Sysco in the fourth quarter valued at about $29,000. Stonebridge Financial Group LLC bought a new stake in shares of Sysco in the fourth quarter valued at approximately $31,000. Sherman Asset Management Inc. acquired a new stake in shares of Sysco in the fourth quarter worth $31,000. Flagship Wealth Advisors LLC bought a new position in Sysco during the fourth quarter worth $31,000. Finally, SRS Capital Advisors Inc. raised its stake in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after purchasing an additional 149 shares during 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 analysts have commented on SYY shares. Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. BMO Capital Markets decreased their price target on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Wall Street Zen lowered shares of Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Sanford C. Bernstein set a $87.00 target price on Sysco and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $83.00.

Insider Activity

In related news, Director Sheila Talton sold 356 shares of Sysco stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the sale, the director now owns 12,738 shares of the company's stock, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company's stock.

Sysco Trading Up 1.3%

NYSE:SYY traded up $0.92 on Friday, reaching $72.99. The company's stock had a trading volume of 5,362,878 shares, compared to its average volume of 3,334,521. Sysco Co. has a 1-year low of $67.12 and a 1-year high of $82.23. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The firm has a market cap of $35.38 billion, a PE ratio of 18.76, a PEG ratio of 1.88 and a beta of 0.80. The business's 50-day moving average price is $71.73 and its two-hundred day moving average price is $73.77.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). The company had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. Sysco had a return on equity of 106.30% and a net margin of 2.40%. The firm's revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.96 EPS. Equities research 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 issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.96%. This is a positive change from Sysco's previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco's payout ratio is 55.96%.

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.