Fortem Financial Group LLC Increases Stock Position in Sysco Co. (NYSE:SYY)

Fortem Financial Group LLC boosted its holdings in Sysco Co. (NYSE:SYY) by 3.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,875 shares of the company’s stock after acquiring an additional 136 shares during the quarter. Fortem Financial Group LLC’s holdings in Sysco were worth $296,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TD Asset Management Inc grew its stake in Sysco by 3.3% during the second quarter. TD Asset Management Inc now owns 183,372 shares of the company’s stock valued at $13,091,000 after acquiring an additional 5,810 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Sysco by 1.6% in the second quarter. Victory Capital Management Inc. now owns 450,989 shares of the company’s stock worth $32,196,000 after buying an additional 6,998 shares in the last quarter. Private Advisor Group LLC boosted its stake in Sysco by 6.3% during the second quarter. Private Advisor Group LLC now owns 37,895 shares of the company’s stock valued at $2,705,000 after buying an additional 2,232 shares during the period. Candriam S.C.A. grew its position in Sysco by 10.1% during the second quarter. Candriam S.C.A. now owns 52,093 shares of the company’s stock worth $3,719,000 after buying an additional 4,759 shares in the last quarter. Finally, Asset Dedication LLC increased its stake in Sysco by 19.1% in the 2nd quarter. Asset Dedication LLC now owns 1,307 shares of the company’s stock worth $93,000 after acquiring an additional 210 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of Sysco stock opened at $74.76 on Tuesday. The stock has a market capitalization of $36.72 billion, a P/E ratio of 19.22, a price-to-earnings-growth ratio of 2.10 and a beta of 1.18. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The business’s 50 day simple moving average is $77.03 and its two-hundred day simple moving average is $75.73.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The firm had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.07 earnings per share. Analysts forecast that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.73%. Sysco’s dividend payout ratio is 52.44%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Melius started coverage on Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target for the company. Jefferies Financial Group lifted their target price 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. JPMorgan Chase & Co. increased their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Finally, Wells Fargo & Company reduced their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.93.

Insider Activity

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction 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 directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,306 shares of company stock valued at $6,485,050. Corporate insiders own 0.54% of the company’s stock.

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.