Lecap Asset Management Ltd. Purchases Shares of 14,969 Sysco Co. (NYSE:SYY)

Lecap Asset Management Ltd. bought a new position in Sysco Co. (NYSE:SYY - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 14,969 shares of the company's stock, valued at approximately $1,095,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYY. AdvisorNet Financial Inc boosted its holdings in shares of Sysco by 74.0% in the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company's stock worth $27,000 after buying an additional 159 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of Sysco by 74.6% in the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company's stock worth $28,000 after purchasing an additional 179 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Sysco in the first quarter worth approximately $32,000. Tyler Stone Wealth Management purchased a new stake in shares of Sysco in the second quarter worth approximately $37,000. Finally, BluePath Capital Management LLC bought a new position in Sysco during the third quarter valued at approximately $38,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SYY shares. JPMorgan Chase & Co. raised their price objective on shares of Sysco from $84.00 to $87.00 and gave the company an "overweight" rating in a research report on Tuesday, March 19th. BMO Capital Markets raised their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday, January 31st. Stephens lifted their price target on shares of Sysco from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, January 31st. Barclays lifted their price target on shares of Sysco from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, January 31st. Finally, StockNews.com lowered shares of Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $85.38.

Insider Activity at Sysco

In related news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,082 shares of the company's stock, valued at $1,926,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.58% of the stock is currently owned by company insiders.

Sysco Stock Performance

Shares of Sysco stock traded down $1.32 during midday trading on Friday, hitting $75.25. The company had a trading volume of 2,027,607 shares, compared to its average volume of 2,582,736. The business's 50 day simple moving average is $79.80 and its two-hundred day simple moving average is $74.09. The stock has a market cap of $37.46 billion, a PE ratio of 18.40, a P/E/G ratio of 1.53 and a beta of 1.15. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The business had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.32 billion. During the same quarter last year, the company posted $0.80 earnings per share. Sysco's quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities analysts predict that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.00 annualized dividend and a dividend yield of 2.66%. Sysco's dividend payout ratio is presently 48.90%.

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.