Sysco Co. (NYSE:SYY) Shares Acquired by Carrera Capital Advisors

Carrera Capital Advisors lifted its holdings in Sysco Co. (NYSE:SYY) by 32.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,481 shares of the company’s stock after purchasing an additional 5,316 shares during the period. Carrera Capital Advisors’ holdings in Sysco were worth $1,642,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after acquiring an additional 2,721,449 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Sysco in the third quarter valued at $137,900,000. Nordea Investment Management AB increased its holdings in Sysco by 52.3% during the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock worth $208,666,000 after purchasing an additional 933,327 shares during the period. Diamond Hill Capital Management Inc. raised its position in Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after purchasing an additional 672,940 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of Sysco in the 3rd quarter valued at about $44,722,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SYY. Wells Fargo & Company raised their target price on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. UBS Group reduced their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Guggenheim restated a “buy” rating and issued a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Finally, StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $84.77.

Sysco Price Performance

SYY stock opened at $74.90 on Wednesday. The business has a 50 day simple moving average of $73.58 and a 200-day simple moving average of $75.63. The company has a market capitalization of $36.64 billion, a P/E ratio of 19.25, a PEG ratio of 1.88 and a beta of 1.17. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) 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 quarter in the prior year, the company posted $0.89 EPS. As a group, equities 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 paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.72%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio is presently 52.44%.

Insiders Place Their Bets

In related news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction 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 $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by insiders.

About Sysco

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.