8,473 Shares in Sysco Co. (NYSE:SYY) Bought by Fairtree Asset Management Pty Ltd

Fairtree Asset Management Pty Ltd purchased a new stake in Sysco Co. (NYSE:SYY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,473 shares of the company's stock, valued at approximately $648,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC raised its position in shares of Sysco by 43.2% during the 3rd quarter. Barclays PLC now owns 1,715,356 shares of the company's stock worth $133,902,000 after purchasing an additional 517,219 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Sysco by 1.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 20,729 shares of the company's stock worth $1,585,000 after purchasing an additional 196 shares during the period. Kingswood Wealth Advisors LLC raised its position in shares of Sysco by 118.1% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 6,307 shares of the company's stock worth $482,000 after purchasing an additional 3,415 shares during the period. Mount Yale Investment Advisors LLC raised its position in shares of Sysco by 75.4% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 13,457 shares of the company's stock worth $1,029,000 after purchasing an additional 5,783 shares during the period. Finally, Foundations Investment Advisors LLC raised its position in shares of Sysco by 8.5% during the 4th quarter. Foundations Investment Advisors LLC now owns 10,053 shares of the company's stock worth $769,000 after purchasing an additional 786 shares during the period. Hedge funds and other institutional investors own 83.41% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SYY. JPMorgan Chase & Co. increased their price target on Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Citigroup assumed coverage on Sysco in a research report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 target price on the stock. Wall Street Zen cut Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Wells Fargo & Company lowered their target price on Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Finally, BMO Capital Markets lowered their target price on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $83.00.

Insider Activity

In other news, Director Sheila Talton sold 356 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the sale, the director now owns 12,738 shares in the company, valued at $902,359.92. This represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.54% of the company's stock.

Sysco Price Performance

NYSE SYY traded up $0.92 on Friday, reaching $72.99. 5,362,878 shares of the stock traded hands, compared to its average volume of 3,346,297. The firm's fifty day simple moving average is $71.68 and its 200 day simple moving average is $73.80. 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 company has a market cap of $35.38 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 1.88 and a beta of 0.80. Sysco Co. has a 12 month low of $67.12 and a 12 month high of $82.23.

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

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be issued a $0.54 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.96%. This is a positive change from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio is presently 55.96%.

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.