Harvest Fund Management Co. Ltd Acquires 2,155 Shares of Sysco Co. (NYSE:SYY)

Harvest Fund Management Co. Ltd boosted its position in shares of Sysco Co. (NYSE:SYY) by 1,561.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,293 shares of the company’s stock after buying an additional 2,155 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Sysco were worth $175,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortem Financial Group LLC grew its position in Sysco by 3.6% during the 4th quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock valued at $296,000 after purchasing an additional 136 shares during the last quarter. Morton Community Bank lifted its holdings in Sysco by 0.4% during the fourth quarter. Morton Community Bank now owns 40,585 shares of the company’s stock valued at $3,103,000 after purchasing an additional 145 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after purchasing an additional 149 shares in the last quarter. S.A. Mason LLC lifted its holdings in Sysco by 10.7% during the fourth quarter. S.A. Mason LLC now owns 1,546 shares of the company’s stock valued at $118,000 after purchasing an additional 150 shares in the last quarter. Finally, HM Payson & Co. raised its position in shares of Sysco by 0.8% during the fourth quarter. HM Payson & Co. now owns 19,160 shares of the company’s stock valued at $1,465,000 after buying an additional 150 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.

Sysco Stock Performance

SYY stock opened at $71.12 on Friday. The firm has a market cap of $34.79 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.88 and a beta of 1.11. The firm has a 50-day simple moving average of $73.10 and a two-hundred day simple moving average of $75.34. 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 quick ratio of 0.68 and a current ratio of 1.20.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 company earned $0.89 EPS. On average, equities analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SYY shares. Wells Fargo & Company boosted their price target on shares of Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Melius assumed coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. UBS Group cut their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley cut their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Finally, Barclays cut their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have issued a 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 $84.77.

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.