YANKCOM Partnership Makes New Investment in Sysco Co. (NYSE:SYY)

YANKCOM Partnership bought a new position in Sysco Co. (NYSE:SYY) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 897 shares of the company’s stock, valued at approximately $69,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp increased 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 worth $2,130,617,000 after purchasing an additional 2,721,449 shares during the period. Diamond Hill Capital Management Inc. increased its stake in shares of Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after buying an additional 672,940 shares during the period. Primecap Management Co. CA increased its stake in shares of Sysco by 9.7% during 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. increased its stake in shares of Sysco by 8.5% during 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. Finally, Janus Henderson Group PLC increased its stake in shares of Sysco by 4.1% during 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. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE SYY opened at $71.20 on Friday. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The company has a market cap of $34.83 billion, a PE ratio of 18.30, a P/E/G ratio of 1.93 and a beta of 1.18. The business has a 50-day simple moving average of $76.00 and a two-hundred day simple moving average of $75.95. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33.

Sysco (NYSE:SYY) last issued its quarterly 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 period in the prior year, the firm earned $0.89 earnings per share. As a group, equities analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is 52.44%.

Wall Street Analysts Forecast Growth

SYY has been the topic of several research reports. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Wells Fargo & Company cut their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Morgan Stanley cut their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Four investment 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.38.

Insider Buying and Selling

In related news, 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 transaction of $519,920.00. Following the completion of the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Insiders sold 79,270 shares of company stock valued at $6,181,946 over the last quarter. 0.54% of the stock is currently owned by company 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.