Sysco Co. (NYSE:SYY) Shares Bought by CX Institutional

CX Institutional grew its position in shares of Sysco Co. (NYSE:SYY) by 41.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,001 shares of the company’s stock after purchasing an additional 13,888 shares during the period. CX Institutional’s holdings in Sysco were worth $3,437,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SYY. Hexagon Capital Partners LLC raised its stake in shares of Sysco by 74.6% in the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock valued at $28,000 after acquiring an additional 179 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Sysco in the first quarter valued at $32,000. CGC Financial Services LLC acquired a new stake in shares of Sysco in the second quarter valued at $33,000. Intrepid Capital Management Inc. acquired a new stake in shares of Sysco in the second quarter valued at $35,000. Finally, Tyler Stone Wealth Management acquired a new stake in shares of Sysco in the second quarter valued at $37,000. 80.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on SYY. JPMorgan Chase & Co. increased their target price on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday. Stephens increased their target price on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. BMO Capital Markets raised their price objective on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Barclays raised their price objective on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Finally, StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and an average target price of $85.38.

Sysco Stock Performance

NYSE:SYY traded down $0.06 during mid-day trading on Friday, reaching $81.58. The stock had a trading volume of 2,002,171 shares, compared to its average volume of 3,072,622. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.80 and a current ratio of 1.37. The firm has a market capitalization of $40.61 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 1.65 and a beta of 1.16. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The business has a 50 day simple moving average of $79.08 and a 200 day simple moving average of $72.95.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The company had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.32 billion. During the same period last year, the firm earned $0.80 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts expect that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.00 annualized dividend and a dividend yield of 2.45%. Sysco’s dividend payout ratio is currently 48.90%.

Insider Buying and Selling

In related news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,082 shares in the company, valued at approximately $1,926,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.58% of the company’s stock.

Sysco Company 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.