Sysco Co. (NYSE:SYY) Shares Acquired by Intellectus Partners LLC

Intellectus Partners LLC increased its stake in Sysco Co. (NYSE:SYY) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,520 shares of the company’s stock after purchasing an additional 807 shares during the quarter. Intellectus Partners LLC’s holdings in Sysco were worth $1,062,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Invesco Ltd. lifted its holdings in Sysco by 11.0% in the third quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock worth $717,283,000 after purchasing an additional 1,076,287 shares during the period. Northern Trust Corp lifted its holdings in Sysco by 3.0% in the 3rd quarter. Northern Trust Corp now owns 6,138,310 shares of the company’s stock valued at $405,435,000 after acquiring an additional 178,464 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Sysco by 4.9% in the third quarter. Bank of New York Mellon Corp now owns 5,651,746 shares of the company’s stock worth $373,298,000 after buying an additional 265,621 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Sysco by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,738,940 shares of the company’s stock worth $180,907,000 after buying an additional 21,700 shares during the period. Finally, Clarkston Capital Partners LLC lifted its position in shares of Sysco by 0.4% in the third quarter. Clarkston Capital Partners LLC now owns 2,320,060 shares of the company’s stock worth $153,240,000 after purchasing an additional 9,385 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

SYY has been the subject of a number of research analyst reports. Stephens increased their price target 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. BMO Capital Markets raised their price objective 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. Barclays increased their price target on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. raised their price objective on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Finally, StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $85.38.

Sysco Stock Performance

NYSE:SYY remained flat at $77.07 on Friday. The company’s stock had a trading volume of 2,072,280 shares, compared to its average volume of 2,339,761. The firm has a market capitalization of $38.37 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.57 and a beta of 1.15. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The business has a 50 day moving average of $79.16 and a 200-day moving average of $74.85. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $19.29 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.80 EPS. As a group, equities research analysts predict that Sysco Co. will post 4.33 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be given a $0.51 dividend. The ex-dividend date is Friday, July 5th. This is a positive change from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a dividend yield of 2.65%. Sysco’s payout ratio is currently 49.88%.

Insider Activity at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction that occurred on 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 approximately $1,926,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is owned by insiders.

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.