Summitry LLC Purchases 5,053 Shares of Sysco Co. (NYSE:SYY)

Summitry LLC boosted its stake in Sysco Co. (NYSE:SYY - Free Report) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,395 shares of the company's stock after purchasing an additional 5,053 shares during the quarter. Summitry LLC's holdings in Sysco were worth $5,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Stonebridge Financial Group LLC bought a new stake in shares of Sysco during the 4th quarter worth $31,000. Sherman Asset Management Inc. purchased a new position in shares of Sysco in the 4th quarter worth about $31,000. Flagship Wealth Advisors LLC bought a new position in shares of Sysco during the 4th quarter valued at about $31,000. SRS Capital Advisors Inc. raised its holdings in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after buying an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in Sysco by 107.4% in the 4th 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. 83.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the transaction, the executive vice president now directly owns 56,304 shares of the company's stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.54% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have commented on SYY. StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Melius assumed coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a "hold" rating and a $85.00 price target for the company. Guggenheim reaffirmed a "buy" rating and set a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. Morgan Stanley reduced their price target on Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lowered their price objective on Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $84.77.

Sysco Trading Up 0.1 %

Shares of NYSE:SYY traded up $0.06 on Friday, hitting $74.10. The company had a trading volume of 2,140,455 shares, compared to its average volume of 3,277,624. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.23. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The firm's 50-day simple moving average is $72.99 and its two-hundred day simple moving average is $75.13. The firm has a market capitalization of $36.25 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period last year, the firm earned $0.89 earnings per share. Equities analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.75%. Sysco's dividend payout ratio (DPR) is 52.44%.

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.