Sysco Co. (NYSE:SYY) Stock Position Increased by Bigelow Investment Advisors LLC

Bigelow Investment Advisors LLC lifted its position in Sysco Co. (NYSE:SYY) by 11.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,632 shares of the company’s stock after buying an additional 486 shares during the period. Bigelow Investment Advisors LLC’s holdings in Sysco were worth $339,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SYY. AdvisorNet Financial Inc raised its position in shares of Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after purchasing an additional 159 shares during the period. Hexagon Capital Partners LLC raised its position in Sysco by 74.6% during the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock valued at $28,000 after buying an additional 179 shares during the period. Sunbelt Securities Inc. acquired a new position in Sysco during the first quarter valued at $32,000. Tyler Stone Wealth Management purchased a new position in Sysco in the second quarter valued at about $37,000. Finally, BluePath Capital Management LLC purchased a new position in Sysco in the third quarter valued at about $38,000. Institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling

In other news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the sale, the chief accounting officer now directly owns 24,082 shares in the company, valued at $1,926,560. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.58% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SYY has been the subject of several recent analyst reports. Barclays increased their target price on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Stephens increased their price objective on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. increased their price objective on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Finally, BMO Capital Markets raised their price target on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.38.

Sysco Stock Up 1.4 %

Shares of NYSE:SYY traded up $1.09 during midday trading on Friday, reaching $76.73. The company had a trading volume of 2,517,546 shares, compared to its average volume of 2,930,864. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. The business’s 50 day moving average price is $79.44 and its 200 day moving average price is $74.24. The stock 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. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $19.29 billion for 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%. Sysco’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 earnings per share. Research analysts forecast that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be issued a dividend of $0.50 per share. 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 currently 48.90%.

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.