Krilogy Financial LLC lifted its position in Sysco Co. (NYSE:SYY - Free Report) by 28.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,035 shares of the company's stock after purchasing an additional 5,316 shares during the quarter. Krilogy Financial LLC's holdings in Sysco were worth $1,838,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. National Pension Service boosted its stake in shares of Sysco by 15.6% during the third quarter. National Pension Service now owns 1,237,017 shares of the company's stock worth $96,562,000 after buying an additional 166,798 shares during the period. New England Asset Management Inc. raised its stake in shares of Sysco by 12.7% during the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company's stock worth $10,254,000 after purchasing an additional 14,810 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Sysco by 29.0% during the third quarter. Empowered Funds LLC now owns 78,333 shares of the company's stock worth $6,115,000 after purchasing an additional 17,587 shares during the period. Diamond Hill Capital Management Inc. grew its position in Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company's stock valued at $521,874,000 after buying an additional 672,940 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in Sysco by 7.7% in the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company's stock valued at $9,706,000 after buying an additional 8,891 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Sysco
In other Sysco news, EVP Greg D. Bertrand sold 21,844 shares of the firm's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $1,747,520.00. Following the sale, the executive vice president now directly owns 60,581 shares of the company's stock, valued at approximately $4,846,480. This trade represents a 26.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now directly owns 12,955 shares of the company's stock, valued at approximately $966,831.65. This represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,306 shares of company stock valued at $6,485,050. 0.54% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on SYY shares. Wells Fargo & Company reduced their target price on shares of Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a report on Monday, December 16th. Melius Research upgraded Sysco to a "hold" rating in a research report on Wednesday, December 18th. Melius started coverage on Sysco in a report on Wednesday, December 18th. They issued a "hold" rating and a $85.00 price target for the company. Finally, StockNews.com raised Sysco from a "buy" rating to a "strong-buy" rating in a report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $85.93.
Check Out Our Latest Research Report on Sysco
Sysco Price Performance
SYY traded down $0.21 during midday trading on Friday, reaching $73.02. 3,555,637 shares of the company's stock were exchanged, compared to its average volume of 1,913,882. The business's 50-day moving average price is $76.72 and its 200 day moving average price is $75.81. The stock has a market capitalization of $35.87 billion, a PE ratio of 18.77, a P/E/G ratio of 1.93 and a beta of 1.18. Sysco Co. has a 1-year low of $69.03 and a 1-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.
Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.13 by ($0.04). The company had revenue of $20.48 billion during the quarter, compared to analysts' expectations of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. Sysco's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 EPS. As a group, equities analysts anticipate that Sysco Co. will post 4.57 EPS for the current fiscal year.
Sysco Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Friday, January 3rd. Sysco's dividend payout ratio is presently 52.44%.
About Sysco
(
Free Report)
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.
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