YANKCOM Partnership Purchases New Position in Sysco Co. (NYSE:SYY)

YANKCOM Partnership purchased a new stake in shares of Sysco Co. (NYSE:SYY) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 897 shares of the company’s stock, valued at approximately $69,000.

Several other institutional investors also recently bought and sold shares of the stock. State Street Corp raised its position in Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after acquiring an additional 2,721,449 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after buying an additional 672,940 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Sysco by 9.7% in the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after buying an additional 422,954 shares in the last quarter. Montrusco Bolton Investments Inc. increased its position in shares of Sysco by 8.5% in the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after buying an additional 375,409 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Sysco by 4.1% in the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock valued at $332,983,000 after buying an additional 168,163 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SYY shares. Morgan Stanley cut their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Melius Research upgraded Sysco to a “hold” rating in a research report on Wednesday, December 18th. Barclays cut their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. UBS Group cut their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. dropped their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.38.

Sysco Stock Performance

NYSE SYY opened at $71.20 on Friday. The stock’s fifty day moving average is $76.00 and its two-hundred day moving average is $75.95. The firm has a market capitalization of $34.83 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 1.93 and a beta of 1.18. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter last year, the company earned $0.89 EPS. On average, research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s dividend payout ratio is presently 52.44%.

Insider Transactions at Sysco

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,876,080. This represents a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,270 shares of company stock worth $6,181,946. 0.54% of the stock is currently owned by company insiders.

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.