Sysco Co. (NYSE:SYY) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 16.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 298,982 shares of the company's stock after purchasing an additional 41,618 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of Sysco worth $21,865,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of SYY. Moneta Group Investment Advisors LLC raised its position in Sysco by 70,686.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,967,508 shares of the company's stock valued at $532,666,000 after purchasing an additional 6,957,665 shares in the last quarter. Norges Bank bought a new stake in Sysco during the 4th quarter valued at $397,373,000. Morgan Stanley raised its position in Sysco by 34.8% during the 4th quarter. Morgan Stanley now owns 6,459,895 shares of the company's stock valued at $493,859,000 after purchasing an additional 1,666,008 shares in the last quarter. Imprint Wealth LLC raised its position in Sysco by 7,204.3% during the 2nd quarter. Imprint Wealth LLC now owns 1,293,809 shares of the company's stock valued at $129,381,000 after purchasing an additional 1,276,096 shares in the last quarter. Finally, Trian Fund Management L.P. bought a new position in shares of Sysco in the 3rd quarter worth $80,812,000. 83.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SYY has been the subject of several recent research reports. StockNews.com lowered Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 1st. Barclays boosted their price target on Sysco from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 31st. BMO Capital Markets boosted their price target on Sysco from $85.00 to $90.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 31st. Stephens boosted their price target on Sysco from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. upped their target price on Sysco from $84.00 to $87.00 and gave the company an "overweight" rating in a research report on Tuesday, March 19th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Sysco has an average rating of "Moderate Buy" and an average target price of $85.38.

Insider Transactions at Sysco

In other news, CAO Neil Russell sold 1,722 shares of the company's 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 sale, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.58% of the company's stock.

Sysco Stock Performance

Sysco stock traded up $0.21 during trading hours on Thursday, hitting $75.65. 2,184,831 shares of the stock traded hands, compared to its average volume of 2,936,375. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80. The firm's 50 day moving average price is $79.52 and its 200-day moving average price is $74.23. The stock has a market capitalization of $37.66 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 1.55 and a beta of 1.15. 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 posted its quarterly earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The company's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 EPS. As a group, equities analysts expect that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 2.64%. Sysco's payout ratio is 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.