Cambridge Financial Group Inc. Buys New Position in Sysco Co. (NYSE:SYY)

Cambridge Financial Group Inc. acquired a new stake in shares of Sysco Co. (NYSE:SYY) during the 4th quarter, HoldingsChannel reports. The firm acquired 99,740 shares of the company’s stock, valued at approximately $7,626,000. Sysco comprises approximately 3.2% of Cambridge Financial Group Inc.’s portfolio, making the stock its 18th largest holding.

Other hedge funds have also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new stake in shares of Sysco during the 4th quarter worth approximately $31,000. Sherman Asset Management Inc. purchased a new stake in Sysco in the fourth quarter worth $31,000. Flagship Wealth Advisors LLC bought a new stake in shares of Sysco in the fourth quarter valued at $31,000. SRS Capital Advisors Inc. lifted its position in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after buying an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew its stake in shares of Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after acquiring an additional 321 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Sysco Stock Performance

Shares of NYSE SYY opened at $74.10 on Friday. The stock’s 50-day moving average is $72.99 and its 200 day moving average is $75.15. The stock has a market cap of $36.25 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 1.88 and a beta of 1.11. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.23. 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 posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 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 firm earned $0.89 EPS. On average, sell-side analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio is presently 52.44%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Jefferies Financial Group increased their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Truist Financial lowered their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Barclays cut their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Finally, Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.77.

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.