Sage Mountain Advisors LLC Acquires Shares of 3,469 Sysco Co. (NYSE:SYY)

Sage Mountain Advisors LLC acquired a new stake in Sysco Co. (NYSE:SYY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,469 shares of the company’s stock, valued at approximately $265,000.

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

Insiders Place Their Bets

In other 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 value of $3,698,079.00. Following the completion of the transaction, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. decreased their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Barclays decreased their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Melius assumed coverage on Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price on the stock. Wells Fargo & Company upped their target price on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.77.

Sysco Stock Down 1.1 %

NYSE SYY opened at $73.69 on Thursday. The business has a fifty day moving average price of $73.38 and a two-hundred day moving average price of $75.56. 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 Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. The stock has a market capitalization of $36.05 billion, a PE ratio of 18.94, a PEG ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last released its earnings results 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 return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Equities analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced 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 2.77%. The ex-dividend date is Friday, April 4th. Sysco’s payout ratio is presently 52.44%.

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.