Panoramic Capital Partners LLC Purchases New Position in Sysco Co. (NYSE:SYY)

Panoramic Capital Partners LLC acquired a new position in Sysco Co. (NYSE:SYY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,176 shares of the company’s stock, valued at approximately $549,000. Sysco makes up approximately 0.5% of Panoramic Capital Partners LLC’s investment portfolio, making the stock its 24th biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp grew its stake in Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after buying an additional 2,721,449 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after acquiring an additional 672,940 shares during the period. Primecap Management Co. CA increased its stake in Sysco by 9.7% in the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after acquiring an additional 422,954 shares during the last quarter. Montrusco Bolton Investments Inc. raised its position in Sysco by 8.5% during the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after purchasing an additional 375,409 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Sysco by 4.1% during the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock worth $332,983,000 after purchasing an additional 168,163 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Jefferies Financial Group upped their price objective on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Barclays decreased their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, Morgan Stanley reduced their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.38.

Sysco Stock Performance

Shares of SYY stock opened at $70.07 on Tuesday. The stock has a market capitalization of $34.28 billion, a PE ratio of 18.01, a PEG ratio of 1.88 and a beta of 1.17. Sysco Co. has a one year low of $69.03 and a one year high of $82.33. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The business’s 50 day simple moving average is $75.78 and its 200 day simple moving average is $75.96.

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

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were issued a $0.51 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.91%. Sysco’s payout ratio is currently 52.44%.

Insider Buying and Selling at Sysco

In other news, EVP Greg D. Bertrand sold 21,844 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the transaction, the executive vice president now owns 60,581 shares of the company’s stock, valued at $4,846,480. This represents a 26.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the sale, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,270 shares of company stock valued at $6,181,946. 0.54% of the stock is currently owned by company insiders.

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.