Lmcg Investments LLC Takes $3.67 Million Position in Sysco Co. (NYSE:SYY)

Lmcg Investments LLC bought a new position in Sysco Co. (NYSE:SYY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 47,976 shares of the company’s stock, valued at approximately $3,668,000.

A number of other hedge funds also recently bought and sold shares of SYY. National Pension Service boosted its stake in shares of Sysco by 15.6% during the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after purchasing an additional 166,798 shares in the last quarter. New England Asset Management Inc. boosted its position in shares of Sysco by 12.7% during the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after purchasing an additional 14,810 shares in the last quarter. Empowered Funds LLC grew its stake in Sysco by 29.0% in the third quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock worth $6,115,000 after purchasing an additional 17,587 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after purchasing an additional 672,940 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Sysco by 7.7% in the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after acquiring an additional 8,891 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Sysco stock opened at $73.02 on Tuesday. The firm has a market capitalization of $35.87 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 2.03 and a beta of 1.18. The company’s 50-day moving average is $76.72 and its 200 day moving average is $75.85. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. During the same quarter in the prior year, the company earned $1.07 earnings per share. Sysco’s revenue was up 4.4% on a year-over-year basis. Research analysts forecast that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.79%. Sysco’s payout ratio is 52.44%.

Insider Transactions at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of Sysco stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. This trade represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 83,306 shares of company stock valued at $6,485,050 in the last quarter. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SYY shares. Melius initiated coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. Jefferies Financial Group upped their target price 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. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company decreased their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.93.

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.