Cambridge Financial Group Inc. Buys New Stake in Sysco Co. (NYSE:SYY)

Cambridge Financial Group Inc. acquired a new position in Sysco Co. (NYSE:SYY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 99,740 shares of the company's stock, valued at approximately $7,626,000. Sysco makes up 3.2% of Cambridge Financial Group Inc.'s portfolio, making the stock its 18th largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in SYY. Townsquare Capital LLC lifted its stake in Sysco by 10.0% in the third quarter. Townsquare Capital LLC now owns 18,758 shares of the company's stock valued at $1,464,000 after buying an additional 1,706 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Sysco by 17.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,918,365 shares of the company's stock worth $305,868,000 after buying an additional 569,058 shares in the last quarter. Financial Counselors Inc. increased its position in Sysco by 5.0% in the 3rd quarter. Financial Counselors Inc. now owns 10,794 shares of the company's stock valued at $843,000 after acquiring an additional 516 shares during the period. Vinva Investment Management Ltd raised its stake in Sysco by 13.7% during the 3rd quarter. Vinva Investment Management Ltd now owns 23,133 shares of the company's stock valued at $1,797,000 after acquiring an additional 2,782 shares in the last quarter. Finally, Isthmus Partners LLC boosted its position in Sysco by 2.4% during the 3rd quarter. Isthmus Partners LLC now owns 151,405 shares of the company's stock worth $11,819,000 after acquiring an additional 3,615 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

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Sysco Stock Performance

Shares of Sysco stock remained flat at $75.42 during midday trading on Wednesday. 998,845 shares of the stock were exchanged, compared to its average volume of 3,269,936. 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 fifty-two week low of $69.03 and a fifty-two week high of $82.23. The firm has a 50 day moving average of $73.07 and a 200 day moving average of $75.10. The stock has a market capitalization of $36.90 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY - Get Free Report) last posted 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 quarter last year, the company earned $0.89 EPS. As a group, equities research analysts predict 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. Shareholders of record on Friday, April 4th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's dividend payout ratio is currently 52.44%.

Insider Transactions at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the 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 completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Guggenheim reaffirmed a "buy" rating and issued a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. StockNews.com lowered shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Barclays cut their target price on Sysco from $93.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley decreased their target price on Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sysco presently has an average rating of "Moderate Buy" and a consensus price target of $84.77.

Sysco 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.