Stonebridge Capital Advisors LLC Raises Stock Holdings in Sysco Co. (NYSE:SYY)

Stonebridge Capital Advisors LLC raised its stake in Sysco Co. (NYSE:SYYGet Rating) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,306 shares of the company’s stock after acquiring an additional 761 shares during the period. Stonebridge Capital Advisors LLC’s holdings in Sysco were worth $1,674,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. North Star Asset Management Inc. grew its position in shares of Sysco by 0.8% during the fourth quarter. North Star Asset Management Inc. now owns 117,345 shares of the company’s stock worth $9,218,000 after purchasing an additional 970 shares in the last quarter. National Pension Service lifted its stake in shares of Sysco by 8.5% in the 3rd quarter. National Pension Service now owns 747,330 shares of the company’s stock valued at $58,665,000 after purchasing an additional 58,309 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Sysco by 144.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 393,052 shares of the company’s stock valued at $30,855,000 after purchasing an additional 232,378 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Sysco by 2.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 328,003 shares of the company’s stock worth $25,764,000 after acquiring an additional 8,164 shares during the last quarter. Finally, Hilltop Holdings Inc. lifted its stake in shares of Sysco by 10.1% during the 4th quarter. Hilltop Holdings Inc. now owns 5,439 shares of the company’s stock worth $427,000 after acquiring an additional 500 shares during the last quarter. 80.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SYY opened at $84.48 on Friday. The stock has a 50-day moving average of $83.87 and a two-hundred day moving average of $80.25. Sysco Co. has a one year low of $68.05 and a one year high of $91.53. The company has a debt-to-equity ratio of 8.03, a quick ratio of 0.72 and a current ratio of 1.24. The stock has a market cap of $43.04 billion, a P/E ratio of 43.55, a P/E/G ratio of 2.38 and a beta of 1.14.

Sysco (NYSE:SYYGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.17. The business had revenue of $16.90 billion during the quarter, compared to analysts’ expectations of $15.99 billion. Sysco had a return on equity of 100.62% and a net margin of 1.52%. The company’s revenue for the quarter was up 42.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. Analysts predict that Sysco Co. will post 3.23 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 22nd. Investors of record on Friday, July 1st will be issued a $0.49 dividend. This is a boost from Sysco’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $1.96 dividend on an annualized basis and a yield of 2.32%. Sysco’s dividend payout ratio is presently 96.91%.

SYY has been the subject of a number of research analyst reports. Barclays raised their price target on Sysco from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, April 25th. Deutsche Bank Aktiengesellschaft raised their price target on Sysco from $82.00 to $84.00 in a research note on Wednesday, May 11th. CL King initiated coverage on Sysco in a research report on Friday, March 11th. They set a “neutral” rating for the company. Credit Suisse Group lifted their target price on Sysco from $97.00 to $107.00 in a research report on Wednesday, May 11th. Finally, Piper Sandler lifted their price target on Sysco from $83.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, April 8th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $94.00.

In other news, EVP Greg D. Bertrand sold 500 shares of the company’s stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $80.74, for a total value of $40,370.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Greg D. Bertrand sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $90.00, for a total value of $4,500,000.00. Following the completion of the sale, the executive vice president now owns 32,324 shares of the company’s stock, valued at $2,909,160. The disclosure for this sale can be found here. Insiders sold a total of 138,680 shares of company stock valued at $12,154,776 in the last ninety days. 0.31% of the stock is currently owned by insiders.

About Sysco (Get Rating)

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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