CX Institutional Acquires 851 Shares of Sysco Co. (NYSE:SYY)

CX Institutional raised its holdings in Sysco Co. (NYSE:SYY) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,884 shares of the company’s stock after buying an additional 851 shares during the period. CX Institutional’s holdings in Sysco were worth $1,138,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Impact Partnership Wealth LLC lifted its position in Sysco by 7.8% in the 4th quarter. Impact Partnership Wealth LLC now owns 10,245 shares of the company’s stock valued at $783,000 after acquiring an additional 743 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Sysco by 8.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 349,763 shares of the company’s stock valued at $26,743,000 after purchasing an additional 28,176 shares in the last quarter. Paradiem LLC purchased a new position in shares of Sysco during the fourth quarter valued at approximately $12,538,000. Advisory Alpha LLC grew its holdings in Sysco by 14.6% during the fourth quarter. Advisory Alpha LLC now owns 3,197 shares of the company’s stock worth $244,000 after buying an additional 407 shares in the last quarter. Finally, Dakota Wealth Management raised its position in Sysco by 1.9% in the 4th quarter. Dakota Wealth Management now owns 24,496 shares of the company’s stock valued at $1,873,000 after buying an additional 459 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SYY. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 13th. Melius started coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price on the stock. Wells Fargo & Company reduced their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, Melius Research upgraded Sysco to a “hold” rating in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.79.

Insider Activity at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,306 shares of company stock worth $6,485,050. 0.54% of the stock is owned by company insiders.

Sysco Stock Up 1.5 %

SYY stock opened at $74.81 on Friday. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The stock has a fifty day moving average of $76.45 and a 200-day moving average of $75.86. The company has a market capitalization of $36.75 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 2.04 and a beta of 1.18. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). The business had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. Sysco’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 EPS. As a group, equities research analysts predict that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

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.