Investment House LLC Purchases 759 Shares of Sysco Co. (NYSE:SYY)

Investment House LLC raised its stake in Sysco Co. (NYSE:SYY) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 43,411 shares of the company’s stock after acquiring an additional 759 shares during the period. Investment House LLC’s holdings in Sysco were worth $3,175,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc lifted its position in Sysco by 74.0% in the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in Sysco by 74.6% in the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock valued at $28,000 after purchasing an additional 179 shares during the last quarter. Headlands Technologies LLC bought a new stake in Sysco in the fourth quarter valued at approximately $34,000. BluePath Capital Management LLC purchased a new position in shares of Sysco during the third quarter valued at approximately $38,000. Finally, Milestone Investment Advisors LLC purchased a new position in shares of Sysco during the third quarter valued at approximately $40,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of SYY traded up $0.25 during midday trading on Monday, reaching $77.32. 1,485,885 shares of the stock were exchanged, compared to its average volume of 2,866,664. The company has a market capitalization of $38.49 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.56 and a beta of 1.15. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The business’s 50-day moving average price is $79.16 and its 200 day moving average price is $74.93. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The business had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.32 billion. During the same quarter in the previous year, the company earned $0.80 EPS. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts expect that Sysco Co. will post 4.33 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be issued a $0.51 dividend. This is an increase from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio is currently 48.90%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Sysco

In other news, CAO Neil Russell sold 1,722 shares of the 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 transaction, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at $1,926,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.58% of the stock is currently owned by corporate 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.