Summitry LLC Grows Position in Sysco Co. (NYSE:SYY)

Summitry LLC lifted its position in shares of Sysco Co. (NYSE:SYY) by 7.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 72,395 shares of the company’s stock after purchasing an additional 5,053 shares during the quarter. Summitry LLC’s holdings in Sysco were worth $5,535,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Sysco by 13.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 346,192 shares of the company’s stock valued at $26,470,000 after purchasing an additional 40,281 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Sysco by 3.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 130,041 shares of the company’s stock valued at $9,943,000 after buying an additional 4,373 shares in the last quarter. Zions Bancorporation N.A. raised its holdings in shares of Sysco by 12.8% during the 4th quarter. Zions Bancorporation N.A. now owns 1,591 shares of the company’s stock valued at $122,000 after buying an additional 180 shares during the period. FineMark National Bank & Trust lifted its position in Sysco by 1.8% during the 4th quarter. FineMark National Bank & Trust now owns 8,580 shares of the company’s stock worth $656,000 after acquiring an additional 149 shares in the last quarter. Finally, Modern Wealth Management LLC boosted its holdings in Sysco by 12.0% in the 4th quarter. Modern Wealth Management LLC now owns 10,552 shares of the company’s stock worth $741,000 after acquiring an additional 1,133 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Down 1.5 %

Shares of NYSE:SYY opened at $70.38 on Wednesday. The company’s fifty day moving average is $72.98 and its two-hundred day moving average is $75.21. 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 Co. has a 1-year low of $69.03 and a 1-year high of $82.33. The stock has a market capitalization of $34.43 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) 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 period in the previous year, the company earned $0.89 EPS. Equities analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. Sysco’s payout ratio is currently 52.44%.

Analysts Set New Price Targets

A number of research analysts have recently commented on SYY shares. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Jefferies Financial Group upped their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Guggenheim reaffirmed a “buy” rating and set a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. Wells Fargo & Company increased their price target on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, UBS Group cut their target price on 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’s stock. According to data from MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Insiders Place Their Bets

In other news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction dated 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is owned by corporate insiders.

About Sysco

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.