Lecap Asset Management Ltd. Invests $3.46 Million in Sysco Corporation (NYSE:SYY)

Lecap Asset Management Ltd. purchased a new position in shares of Sysco Corporation (NYSE:SYY) during the 1st quarter, Holdings Channel.com reports. The firm purchased 46,124 shares of the company’s stock, valued at approximately $3,461,000. Sysco comprises approximately 0.8% of Lecap Asset Management Ltd.’s investment portfolio, making the stock its 14th largest position.

Several other institutional investors have also added to or reduced their stakes in SYY. NorthCrest Asset Manangement LLC grew its stake in Sysco by 4.9% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company’s stock valued at $226,000 after purchasing an additional 139 shares during the period. MV Capital Management Inc. increased its position in Sysco by 0.4% in the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company’s stock worth $2,625,000 after buying an additional 144 shares during the last quarter. Morton Community Bank increased its holdings in Sysco by 0.4% in the 4th quarter. Morton Community Bank now owns 40,585 shares of the company’s stock worth $3,103,000 after acquiring an additional 145 shares during the last quarter. Nemes Rush Group LLC raised its position in shares of Sysco by 5.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company’s stock valued at $201,000 after purchasing an additional 147 shares during the period. Finally, SRS Capital Advisors Inc. raised its holdings in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after acquiring an additional 149 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

SYY opened at $75.90 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 6.37. The stock has a market capitalization of $36.79 billion, a P/E ratio of 19.66, a PEG ratio of 2.46 and a beta of 0.81. The stock has a 50-day moving average price of $72.58 and a 200-day moving average price of $73.47. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $82.23.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). The firm had revenue of $19.60 billion during the quarter, compared to analysts’ expectations of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 EPS. Equities analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.85%. This is a positive change from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco’s dividend payout ratio is presently 52.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SYY shares. BMO Capital Markets decreased their price target on Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Barclays lowered their target price on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Wall Street Zen lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. UBS Group lowered their price objective on Sysco from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company reduced their target price on Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.00.

Insider Activity

In related news, Director Sheila Talton sold 356 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the sale, the director now directly owns 12,738 shares in the company, valued at $902,359.92. This represents a 2.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.54% of the company’s stock.

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.