Sysco Co. (NYSE:SYY) Shares Purchased by Syon Capital LLC

Syon Capital LLC boosted its position in shares of Sysco Co. (NYSE:SYY) by 24.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,505 shares of the company’s stock after buying an additional 1,464 shares during the quarter. Syon Capital LLC’s holdings in Sysco were worth $549,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. AdvisorNet Financial Inc lifted its position in shares of Sysco by 74.0% during the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after acquiring an additional 159 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Sysco by 74.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock valued at $28,000 after purchasing an additional 179 shares during the period. BluePath Capital Management LLC acquired a new position in shares of Sysco in the 3rd quarter valued at $38,000. BKM Wealth Management LLC purchased a new position in Sysco in the 4th quarter worth about $42,000. Finally, Milestone Investment Advisors LLC acquired a new stake in Sysco during the 3rd quarter worth about $40,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Sysco news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at $1,926,560. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.58% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on SYY shares. Stephens lifted their price objective on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. increased their price objective on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. BMO Capital Markets lifted their target price on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Barclays increased their price target on shares of Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Finally, StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average price target of $85.38.

Sysco Price Performance

SYY opened at $77.07 on Friday. The company has a fifty day moving average price of $79.16 and a two-hundred day moving average price of $74.78. The firm has a market capitalization of $38.37 billion, a PE ratio of 18.84, a P/E/G ratio of 1.57 and a beta of 1.15. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.80 and a current ratio of 1.37.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.32 billion. Sysco had a net margin of 2.69% and a return on equity of 105.22%. Sysco’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the company posted $0.80 EPS. As a group, analysts anticipate that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be issued a $0.51 dividend. This is a positive change from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. This represents a $2.04 annualized dividend and a dividend yield of 2.65%. Sysco’s payout ratio is 48.90%.

Sysco 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.