Naples Money Management LLC Makes New Investment in Sysco Co. (NYSE:SYY)

Naples Money Management LLC acquired a new stake in shares of Sysco Co. (NYSE:SYY - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 30,100 shares of the company's stock, valued at approximately $2,201,000. Sysco makes up 2.1% of Naples Money Management LLC's investment portfolio, making the stock its 21st biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYY. AdvisorNet Financial Inc boosted its stake in Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company's stock valued at $27,000 after buying an additional 159 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Sysco by 74.6% during the 3rd quarter. Hexagon Capital Partners LLC now owns 419 shares of the company's stock valued at $28,000 after purchasing an additional 179 shares in the last quarter. Sunbelt Securities Inc. bought a new position in shares of Sysco during the 1st quarter valued at about $32,000. Tyler Stone Wealth Management bought a new stake in shares of Sysco in the 2nd quarter worth approximately $37,000. Finally, BluePath Capital Management LLC bought a new position in shares of Sysco in the third quarter valued at $38,000. Institutional investors own 83.41% of the company's stock.

Insider Transactions at Sysco

In related news, CAO Neil Russell sold 1,722 shares of the company's stock in a transaction dated Wednesday, March 6th. The shares were 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 of the company's stock, valued at $1,926,560. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.58% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Sysco Stock Up 1.4 %

SYY traded up $1.09 on Friday, reaching $76.73. 2,516,096 shares of the company traded hands, compared to its average volume of 2,931,029. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. 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 company has a market cap of $38.20 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 1.54 and a beta of 1.15. The stock's 50 day moving average price is $79.44 and its 200-day moving average price is $74.24.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $19.29 billion during the quarter, compared to analysts' expectations of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The company's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 EPS. On average, sell-side analysts expect that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Thursday, April 4th. Sysco's dividend 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.

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