MV Capital Management Inc. Grows Stake in Sysco Co. (NYSE:SYY)

MV Capital Management Inc. increased its holdings in Sysco Co. (NYSE:SYY) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,330 shares of the company’s stock after purchasing an additional 144 shares during the period. MV Capital Management Inc.’s holdings in Sysco were worth $2,625,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SYY. Fortem Financial Group LLC increased its stake in Sysco by 3.6% in the 4th quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock worth $296,000 after acquiring an additional 136 shares during the last quarter. Morton Community Bank increased its position in Sysco by 0.4% in the fourth quarter. Morton Community Bank now owns 40,585 shares of the company’s stock worth $3,103,000 after purchasing an additional 145 shares during the last quarter. SRS Capital Advisors Inc. raised its stake 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. FineMark National Bank & Trust lifted its position in Sysco by 1.8% during the fourth quarter. FineMark National Bank & Trust now owns 8,580 shares of the company’s stock valued at $656,000 after purchasing an additional 149 shares during the last quarter. Finally, S.A. Mason LLC increased its holdings in shares of Sysco by 10.7% in the 4th quarter. S.A. Mason LLC now owns 1,546 shares of the company’s stock worth $118,000 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 Sysco stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SYY. Wells Fargo & Company increased their price target on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Melius Research upgraded Sysco to a “hold” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. cut their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Guggenheim restated a “buy” rating and issued a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Finally, 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. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Stock Performance

Sysco stock opened at $74.10 on Friday. 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 company has a market capitalization of $36.25 billion, a PE ratio of 19.05, a P/E/G ratio of 1.88 and a beta of 1.11. The company has a 50 day moving average price of $72.99 and a 200-day moving average price of $75.15. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.23.

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

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is 52.44%.

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.