Brooklyn Investment Group Buys 154 Shares of Sysco Co. (NYSE:SYY)

Brooklyn Investment Group increased its stake in shares of Sysco Co. (NYSE:SYY) by 12.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,410 shares of the company’s stock after purchasing an additional 154 shares during the quarter. Brooklyn Investment Group’s holdings in Sysco were worth $108,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SYY. Armstrong Advisory Group Inc. raised its stake in shares of Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Sysco in the 3rd quarter worth about $26,000. Valley Wealth Managers Inc. bought a new stake in Sysco in the third quarter worth about $31,000. Focused Wealth Management Inc bought a new position in shares of Sysco during the third quarter valued at approximately $37,000. Finally, Canoe Financial LP bought a new stake in shares of Sysco during the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 0.3 %

Shares of NYSE SYY opened at $73.02 on Monday. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89. The business has a fifty day moving average price of $76.72 and a 200 day moving average price of $75.81. The stock has a market capitalization of $35.87 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 1.93 and a beta of 1.18. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73.

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

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.79%. Sysco’s dividend payout ratio is presently 52.44%.

Insider Transactions at Sysco

In related news, SVP Eve M. Mcfadden sold 6,499 shares of Sysco stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the company’s 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 owns 56,304 shares in the company, valued at $4,335,408. The trade was a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 83,306 shares of company stock valued at $6,485,050 in the last quarter. 0.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SYY. Wells Fargo & Company cut their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 13th. Melius initiated coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price on the stock. Finally, Jefferies Financial Group boosted their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $85.93.

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.