Waycross Partners LLC Has $9.63 Million Stock Holdings in Sysco Co. (NYSE:SYY)

Waycross Partners LLC increased its position in shares of Sysco Co. (NYSE:SYY) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 131,701 shares of the company’s stock after buying an additional 4,565 shares during the quarter. Sysco accounts for 1.8% of Waycross Partners LLC’s portfolio, making the stock its 25th biggest holding. Waycross Partners LLC’s holdings in Sysco were worth $9,631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Trian Fund Management L.P. bought a new position in Sysco during the third quarter worth about $80,812,000. Invesco Ltd. lifted its position in Sysco by 11.0% in the 3rd quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock valued at $717,283,000 after acquiring an additional 1,076,287 shares in the last quarter. Acadian Asset Management LLC lifted its position in Sysco by 1,591.5% during the 3rd quarter. Acadian Asset Management LLC now owns 764,235 shares of the company’s stock worth $50,462,000 after buying an additional 719,054 shares in the last quarter. Becker Capital Management Inc. raised its holdings in shares of Sysco by 3,671.0% in the 3rd quarter. Becker Capital Management Inc. now owns 470,888 shares of the company’s stock valued at $31,102,000 after purchasing an additional 458,401 shares during the period. Finally, Vaughan David Investments LLC IL acquired a new position in Sysco in the 4th quarter valued at about $32,976,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Trading Down 3.8 %

NYSE:SYY traded down $2.90 during midday trading on Tuesday, reaching $74.32. 7,972,734 shares of the stock traded hands, compared to its average volume of 2,948,538. 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 12 month low of $62.24 and a 12 month high of $82.89. The stock has a market capitalization of $37.00 billion, a P/E ratio of 18.17, a PEG ratio of 1.56 and a beta of 1.15. The company has a fifty day moving average of $79.02 and a 200 day moving average of $75.11.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The firm had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.32 billion. During the same period in the prior year, the firm earned $0.80 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. On average, research analysts predict that Sysco Co. will post 4.33 EPS for the current year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, July 5th. This is a boost from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio is 48.90%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares in the company, valued at approximately $1,926,560. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company 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.