Naples Money Management LLC Purchases New Stake in Sysco Co. (NYSE:SYY)

Naples Money Management LLC bought a new stake in Sysco Co. (NYSE:SYY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 30,100 shares of the company’s stock, valued at approximately $2,201,000. Sysco makes up approximately 2.1% of Naples Money Management LLC’s holdings, making the stock its 21st biggest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. AdvisorNet Financial Inc raised its position in Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Sysco by 74.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock valued at $28,000 after purchasing an additional 179 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Sysco during the 1st quarter worth $32,000. Tyler Stone Wealth Management bought a new stake in shares of Sysco during the 2nd quarter worth $37,000. Finally, BluePath Capital Management LLC acquired a new stake in Sysco in the third quarter valued at about $38,000. Institutional investors own 83.41% of the company’s stock.

Insider Activity

In other Sysco news, CAO Neil Russell sold 1,722 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Barclays raised their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. BMO Capital Markets raised their price objective on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Finally, Stephens upped their target price on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.38.

Sysco Trading Up 1.4 %

Shares of SYY stock traded up $1.09 during mid-day trading on Friday, hitting $76.73. The company’s stock had a trading volume of 2,516,096 shares, compared to its average volume of 2,931,029. The company has a market cap of $38.20 billion, a PE ratio of 18.76, a P/E/G ratio of 1.54 and a beta of 1.15. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.80 and a current ratio of 1.37. The company’s fifty day simple moving average is $79.44 and its 200-day simple moving average is $74.24. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 earnings per share. As a group, equities research analysts expect that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Thursday, April 4th. Sysco’s payout ratio is 48.90%.

Sysco 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.