Members Wealth LLC purchased a new stake in Sysco Co. (NYSE:SYY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,688 shares of the company's stock, valued at approximately $259,000.
A number of other large investors have also added to or reduced their stakes in SYY. Parvin Asset Management LLC bought a new position in shares of Sysco in the fourth quarter worth $29,000. Stonebridge Financial Group LLC bought a new stake in shares of Sysco during the 4th quarter worth approximately $31,000. Flagship Wealth Advisors LLC bought a new stake in shares of Sysco during the 4th quarter worth approximately $31,000. Sherman Asset Management Inc. bought a new stake in shares of Sysco during the 4th quarter worth approximately $31,000. Finally, SRS Capital Advisors Inc. lifted 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 worth $33,000 after acquiring an additional 149 shares during the period. Institutional investors own 83.41% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on SYY shares. Citigroup began coverage on shares of Sysco in a report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price target for the company. UBS Group decreased their target price on Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Wall Street Zen cut Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Barclays decreased their target price on Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lifted their target price on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Four equities research 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 stock has an average rating of "Moderate Buy" and a consensus price target of $83.00.
Read Our Latest Research Report on SYY
Sysco Stock Performance
Shares of NYSE:SYY traded up $0.92 during midday trading on Friday, reaching $72.99. 5,362,878 shares of the company traded hands, compared to its average volume of 3,346,298. The firm has a market capitalization of $35.38 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80. 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 firm's fifty day moving average price is $71.73 and its two-hundred day moving average price is $73.77. 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 announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a net margin of 2.40% and a return on equity of 106.30%. The firm had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same quarter last year, the company posted $0.96 earnings per share. Sysco's revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.
Sysco Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be issued a $0.54 dividend. This is a positive change from Sysco's previous quarterly dividend of $0.51. 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%. Sysco's dividend payout ratio (DPR) is presently 55.96%.
Insiders Place Their Bets
In other news, Director Sheila Talton sold 356 shares of the firm's 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 transaction, the director now directly owns 12,738 shares in the company, valued at $902,359.92. This trade represents a 2.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.54% of the company's stock.
About Sysco
(
Free Report)
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.
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