Intellectus Partners LLC Increases Stock Holdings in Sysco Co. (NYSE:SYY)

Intellectus Partners LLC lifted its stake in shares of Sysco Co. (NYSE:SYY) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,520 shares of the company’s stock after buying an additional 807 shares during the period. Intellectus Partners LLC’s holdings in Sysco were worth $1,062,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Transcend Capital Advisors LLC bought a new stake in Sysco during the fourth quarter worth $212,000. Russell Investments Group Ltd. lifted its holdings in Sysco by 39.9% during the fourth quarter. Russell Investments Group Ltd. now owns 300,746 shares of the company’s stock worth $21,993,000 after acquiring an additional 85,798 shares during the period. Headlands Technologies LLC bought a new stake in Sysco during the fourth quarter worth $34,000. Citizens Financial Group Inc. RI lifted its holdings in Sysco by 14.5% during the fourth quarter. Citizens Financial Group Inc. RI now owns 8,470 shares of the company’s stock worth $619,000 after acquiring an additional 1,070 shares during the period. Finally, Bryn Mawr Capital Management LLC lifted its holdings in Sysco by 3.7% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 77,367 shares of the company’s stock worth $5,658,000 after acquiring an additional 2,777 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Sysco Price Performance

SYY remained flat at $77.07 during trading on Friday. The company had a trading volume of 2,072,280 shares, compared to its average volume of 2,339,761. The company has a 50-day simple moving average of $79.16 and a 200-day simple moving average of $74.85. The stock has a market cap of $38.37 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 1.57 and a beta of 1.15. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.80 and a current ratio of 1.37. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 EPS. Equities analysts forecast that Sysco Co. will post 4.33 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be paid a $0.51 dividend. 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 is currently 49.88%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Sysco news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the transaction, the chief accounting officer now directly owns 24,082 shares in the company, valued at approximately $1,926,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.58% 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.