71,409 Shares in Sysco Co. (NYSE:SYY) Purchased by Lbp Am Sa

Lbp Am Sa bought a new position in shares of Sysco Co. (NYSE:SYY) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 71,409 shares of the company’s stock, valued at approximately $5,460,000.

Several other hedge funds have also recently bought and sold shares of the company. State Street Corp increased its holdings in Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after purchasing an additional 2,721,449 shares during the period. Primecap Management Co. CA increased its holdings in Sysco by 9.7% during the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock worth $374,410,000 after purchasing an additional 422,954 shares during the period. Montrusco Bolton Investments Inc. increased its holdings in Sysco by 8.5% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock worth $366,789,000 after purchasing an additional 375,409 shares during the period. Janus Henderson Group PLC increased its holdings in Sysco by 4.1% during the 3rd quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock worth $332,983,000 after purchasing an additional 168,163 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Sysco by 17.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,918,365 shares of the company’s stock worth $305,868,000 after purchasing an additional 569,058 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Trading Up 1.0 %

NYSE:SYY opened at $73.35 on Friday. The stock’s 50 day moving average price is $73.28 and its 200 day moving average price is $75.52. The company has a market capitalization of $35.89 billion, a PE ratio of 18.86, a P/E/G ratio of 1.88 and a beta of 1.11. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) 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 in the prior year, the firm posted $0.89 EPS. On average, research analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.78%. Sysco’s payout ratio is 52.44%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Jefferies Financial Group upped their price target on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Wells Fargo & Company increased their price objective on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Melius began coverage on Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.77.

Insiders Place Their Bets

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by insiders.

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.