Bridges Investment Management Inc. Raises Stock Holdings in Sysco Co. (NYSE:SYY)

Bridges Investment Management Inc. raised its holdings in shares of Sysco Co. (NYSE:SYY) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,553 shares of the company’s stock after purchasing an additional 717 shares during the quarter. Bridges Investment Management Inc.’s holdings in Sysco were worth $2,107,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fortem Financial Group LLC raised its stake in shares of Sysco by 3.6% in the 4th quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock valued at $296,000 after purchasing an additional 136 shares in the last quarter. S.A. Mason LLC raised its stake in Sysco by 10.7% during the fourth quarter. S.A. Mason LLC now owns 1,546 shares of the company’s stock valued at $118,000 after buying an additional 150 shares in the last quarter. Cable Hill Partners LLC raised its stake in Sysco by 3.9% during the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock valued at $316,000 after buying an additional 152 shares in the last quarter. Brooklyn Investment Group lifted its holdings in Sysco by 12.3% during the 4th quarter. Brooklyn Investment Group now owns 1,410 shares of the company’s stock worth $108,000 after buying an additional 154 shares during the last quarter. Finally, Howard Capital Management Inc. grew its position in shares of Sysco by 5.0% in the 4th quarter. Howard Capital Management Inc. now owns 3,370 shares of the company’s stock worth $258,000 after acquiring an additional 162 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SYY has been the topic of several research analyst reports. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Guggenheim restated a “buy” rating and issued a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Finally, Melius started coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.77.

Insider Activity at Sysco

In other Sysco 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 of the company’s stock, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their position. The sale 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 business’s 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 completion of the sale, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,370 shares of company stock worth $5,965,519 over the last quarter. 0.54% of the stock is currently owned by company insiders.

Sysco Stock Up 1.1 %

Shares of Sysco stock opened at $75.53 on Monday. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33. The company has a market capitalization of $36.95 billion, a P/E ratio of 19.42, a PEG ratio of 1.88 and a beta of 1.17. The business’s fifty day moving average price is $73.66 and its two-hundred day moving average price is $75.65. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the prior year, the company earned $0.89 earnings per share. As a group, research analysts forecast that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

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.