Sysco Co. (NYSE:SYY) Position Boosted by West Tower Group LLC

West Tower Group LLC grew its position in Sysco Co. (NYSE:SYY) by 71.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,000 shares of the company’s stock after buying an additional 2,500 shares during the quarter. Sysco makes up approximately 1.0% of West Tower Group LLC’s portfolio, making the stock its 25th largest position. West Tower Group LLC’s holdings in Sysco were worth $459,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYY. Claro Advisors LLC acquired a new position in shares of Sysco in the third quarter worth about $250,000. Swiss National Bank boosted its holdings in shares of Sysco by 0.3% in the third quarter. Swiss National Bank now owns 1,478,000 shares of the company’s stock worth $115,373,000 after buying an additional 4,000 shares during the period. New England Asset Management Inc. boosted its holdings in shares of Sysco by 12.7% in the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock worth $10,254,000 after buying an additional 14,810 shares during the period. Pathstone Holdings LLC boosted its holdings in shares of Sysco by 4.9% in the third quarter. Pathstone Holdings LLC now owns 126,684 shares of the company’s stock worth $9,889,000 after buying an additional 5,918 shares during the period. Finally, Caprock Group LLC acquired a new position in shares of Sysco in the third quarter worth about $1,307,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is owned by company insiders.

Sysco Stock Performance

Shares of NYSE:SYY opened at $74.25 on Wednesday. The company has a market capitalization of $36.33 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 1.88 and a beta of 1.11. The firm’s 50 day simple moving average is $73.27 and its 200 day simple moving average is $75.46. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33.

Sysco (NYSE:SYY) last announced its quarterly earnings results 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 in the prior year, the business posted $0.89 EPS. As a group, sell-side analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.75%. Sysco’s payout ratio is 52.44%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Barclays cut their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. UBS Group decreased their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Finally, Melius initiated coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco 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.