Summit Financial LLC Has $672,000 Stock Holdings in Sysco Co. (NYSE:SYY)

Summit Financial LLC raised its holdings in Sysco Co. (NYSE:SYY - Free Report) by 166.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,788 shares of the company's stock after acquiring an additional 5,492 shares during the quarter. Summit Financial LLC's holdings in Sysco were worth $672,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Fortem Financial Group LLC raised its position in shares of Sysco by 3.6% during the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company's stock worth $296,000 after purchasing an additional 136 shares during the period. MV Capital Management Inc. raised its holdings in Sysco by 0.4% during the 4th quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock worth $2,625,000 after buying an additional 144 shares during the period. Morton Community Bank lifted its stake in Sysco by 0.4% during the fourth quarter. Morton Community Bank now owns 40,585 shares of the company's stock valued at $3,103,000 after buying an additional 145 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after buying an additional 149 shares during the period. Finally, FineMark National Bank & Trust increased its position in shares of Sysco by 1.8% in the fourth quarter. FineMark National Bank & Trust now owns 8,580 shares of the company's stock worth $656,000 after acquiring an additional 149 shares in the last quarter. Institutional investors own 83.41% of the company's stock.

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Sysco Stock Down 5.3 %

Shares of SYY stock traded down $4.00 on Friday, hitting $71.41. The company's stock had a trading volume of 5,117,172 shares, compared to its average volume of 3,290,943. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The stock has a market capitalization of $34.94 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 1.88 and a beta of 1.11. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.23. The firm's fifty day moving average price is $73.07 and its 200-day moving average price is $75.06.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting 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 in the prior year, the firm posted $0.89 earnings per share. Research analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Friday, April 4th. Sysco's payout ratio is 52.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Melius Research raised shares of Sysco to a "hold" rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. decreased their target price on Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. UBS Group dropped their price target on Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. StockNews.com lowered Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Finally, Barclays dropped 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 analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.77.

About Sysco

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.