Sysco Co. (NYSE:SYY) Shares Bought by Flputnam Investment Management Co.

Flputnam Investment Management Co. grew its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 117.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,407 shares of the company's stock after purchasing an additional 20,738 shares during the quarter. Flputnam Investment Management Co.'s holdings in Sysco were worth $2,937,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new stake in Sysco in the 3rd quarter worth approximately $26,000. Stonebridge Financial Group LLC purchased a new stake in Sysco during the 4th quarter valued at approximately $31,000. Valley Wealth Managers Inc. purchased a new stake in Sysco during the 3rd quarter valued at approximately $31,000. Focused Wealth Management Inc bought a new stake in Sysco in the third quarter worth $37,000. Finally, HHM Wealth Advisors LLC lifted its position in Sysco by 107.4% in the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock worth $47,000 after buying an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insider Activity

In other news, EVP Greg D. Bertrand sold 48,027 shares of the firm'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 value of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Insiders own 0.54% of the company's stock.

Sysco Price Performance

SYY stock traded down $0.44 during midday trading on Wednesday, reaching $74.48. The stock had a trading volume of 3,359,389 shares, compared to its average volume of 3,099,142. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33. The company has a market cap of $36.44 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The company's fifty day simple moving average is $73.52 and its 200 day simple moving average is $75.62. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting 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 quarter in the previous year, the firm earned $0.89 earnings per share. As a group, sell-side analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's payout ratio is 52.44%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SYY shares. Jefferies Financial Group increased their target price on Sysco from $91.00 to $95.00 and gave the stock a "buy" rating in a research note on Monday, December 16th. Melius began coverage on Sysco in a research note on Wednesday, December 18th. They issued a "hold" rating and a $85.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Barclays decreased their target price on Sysco from $93.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their target price on Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Four 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, Sysco currently 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.