Brandes Investment Partners LP Has $48.56 Million Position in Sysco Co. (NYSE:SYY)

Brandes Investment Partners LP boosted its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 19,865.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 635,102 shares of the company's stock after acquiring an additional 631,921 shares during the quarter. Brandes Investment Partners LP owned 0.13% of Sysco worth $48,560,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in Sysco during the third quarter worth $26,000. Stonebridge Financial Group LLC acquired a new position in Sysco during the fourth quarter worth $31,000. Valley Wealth Managers Inc. acquired a new position in Sysco during the third quarter worth $31,000. Sherman Asset Management Inc. acquired a new position in Sysco during the fourth quarter worth $31,000. Finally, 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 worth $33,000 after acquiring an additional 149 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. StockNews.com upgraded Sysco from a "buy" rating to a "strong-buy" rating in a report on Wednesday, March 5th. UBS Group decreased their target price on Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their target price on Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Morgan Stanley decreased their target price on Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. Finally, Barclays decreased their target price on Sysco from $93.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sysco presently has an average rating of "Moderate Buy" and a consensus price target of $84.77.

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Sysco Trading Down 2.8 %

NYSE:SYY traded down $2.06 during mid-day trading on Wednesday, hitting $72.30. The company had a trading volume of 5,902,631 shares, compared to its average volume of 3,108,002. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. The business's fifty day moving average is $73.27 and its two-hundred day moving average is $75.46. 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 firm has a market cap of $35.37 billion, a P/E ratio of 18.59, a P/E/G ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the business earned $0.89 EPS. As a group, research analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders 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 dividend yield of 2.82%. The ex-dividend date is Friday, April 4th. Sysco's dividend payout ratio is currently 52.44%.

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the sale, the executive vice president now 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is currently owned by insiders.

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.