Oak Hill Wealth Advisors LLC Takes Position in Sysco Co. (NYSE:SYY)

Oak Hill Wealth Advisors LLC acquired a new position in shares of Sysco Co. (NYSE:SYY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,068 shares of the company’s stock, valued at approximately $235,000.

A number of other institutional investors have also recently added to or reduced their stakes in SYY. State Street Corp boosted its holdings in Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after buying an additional 2,721,449 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Sysco during the third quarter worth about $137,900,000. Raymond James Financial Inc. purchased a new stake in Sysco during the fourth quarter worth about $97,078,000. Nordea Investment Management AB boosted its holdings in Sysco by 52.3% during the fourth quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock worth $208,666,000 after buying an additional 933,327 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its holdings in Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after buying an additional 672,940 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by company insiders.

Sysco Stock Performance

NYSE:SYY opened at $76.53 on Friday. The firm has a 50 day simple moving average of $73.47 and a 200-day simple moving average of $75.62. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The firm has a market cap of $37.44 billion, a PE ratio of 19.67, a P/E/G ratio of 1.88 and a beta of 1.11. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period last year, the firm earned $0.89 earnings per share. On average, equities analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.67%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is 52.44%.

Wall Street Analyst Weigh In

A number of research firms recently commented on SYY. Barclays decreased their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. UBS Group cut their target price on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Jefferies Financial Group lifted their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Morgan Stanley cut their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average target price of $84.77.

Sysco Company Profile

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.