Ensign Peak Advisors Inc Acquires 290,332 Shares of Sysco Co. (NYSE:SYY)

Ensign Peak Advisors Inc increased its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 40.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,008,954 shares of the company's stock after buying an additional 290,332 shares during the quarter. Ensign Peak Advisors Inc owned about 0.21% of Sysco worth $77,145,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MV Capital Management Inc. lifted its stake in shares of Sysco by 0.4% in the 4th quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock valued at $2,625,000 after purchasing an additional 144 shares during the period. Morton Community Bank increased its holdings in Sysco by 0.4% during the 4th quarter. Morton Community Bank now owns 40,585 shares of the company's stock worth $3,103,000 after purchasing an additional 145 shares in the last quarter. Nemes Rush Group LLC increased its holdings in Sysco by 5.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock worth $201,000 after purchasing an additional 147 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Sysco by 53.0% during the 4th 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 last quarter. Finally, FineMark National Bank & Trust boosted its stake in shares of Sysco by 1.8% during the 4th quarter. FineMark National Bank & Trust now owns 8,580 shares of the company's stock worth $656,000 after buying an additional 149 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Trading Up 1.6%

Shares of NYSE:SYY traded up $1.16 during mid-day trading on Monday, reaching $71.91. 3,377,571 shares of the company's stock were exchanged, compared to its average volume of 3,361,366. The firm has a market capitalization of $34.86 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.88 and a beta of 0.80. The business's fifty day moving average price is $72.11 and its 200-day moving average price is $74.12. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a twelve month low of $67.12 and a twelve month high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). The firm had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. Sysco's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 EPS. On average, research analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be paid a $0.54 dividend. This is an increase from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco's payout ratio is 55.96%.

Analysts Set New Price Targets

SYY has been the subject of a number of recent research reports. Barclays reduced their price objective on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. BMO Capital Markets cut their price objective on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 target price on shares of Sysco and gave the stock an "overweight" rating in a report on Tuesday, April 22nd. UBS Group lowered their target price on shares of Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, Guggenheim reissued a "buy" rating and issued a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $83.38.

Insider Buying and Selling at Sysco

In other news, Director Sheila Talton sold 356 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the sale, the director now directly owns 12,738 shares of the company's stock, valued at $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.54% of the company's stock.

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.