Bryn Mawr Capital Management LLC Increases Stake in Sysco Co. (NYSE:SYY)

Bryn Mawr Capital Management LLC increased its holdings in Sysco Co. (NYSE:SYY) by 3.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,367 shares of the company’s stock after purchasing an additional 2,777 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Sysco were worth $5,658,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in SYY. Trian Fund Management L.P. purchased a new stake in shares of Sysco in the 3rd quarter valued at $80,812,000. Invesco Ltd. raised its holdings in Sysco by 11.0% during the 3rd quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock valued at $717,283,000 after buying an additional 1,076,287 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Sysco by 1,591.5% during the 3rd quarter. Acadian Asset Management LLC now owns 764,235 shares of the company’s stock valued at $50,462,000 after buying an additional 719,054 shares during the last quarter. Becker Capital Management Inc. raised its holdings in Sysco by 3,671.0% during the 3rd quarter. Becker Capital Management Inc. now owns 470,888 shares of the company’s stock valued at $31,102,000 after buying an additional 458,401 shares during the last quarter. Finally, Vaughan David Investments LLC IL bought a new stake in Sysco during the 4th quarter valued at $32,976,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the sale, the chief accounting officer now directly owns 24,082 shares in the company, valued at approximately $1,926,560. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.58% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SYY shares. Barclays upped their price target on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Stephens upped their price target on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Finally, BMO Capital Markets upped their price objective on shares of Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average price target of $85.38.

Sysco Price Performance

Shares of Sysco stock opened at $77.07 on Friday. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80. The company has a 50-day moving average of $79.16 and a 200 day moving average of $74.78. The firm has a market cap of $38.37 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.57 and a beta of 1.15. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly 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 net margin of 2.69% and a return on equity of 105.22%. Sysco’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.80 EPS. As a group, sell-side analysts anticipate that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.51 per share. This is a positive change from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio (DPR) is currently 48.90%.

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.