Keel Point LLC Purchases Shares of 3,050 Sysco Co. (NYSE:SYY)

Keel Point LLC acquired a new position in shares of Sysco Co. (NYSE:SYY) during the 4th quarter, Holdings Channel.com reports. The fund acquired 3,050 shares of the company’s stock, valued at approximately $223,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Brinker Capital Investments LLC increased its holdings in Sysco by 3.2% in the 1st quarter. Brinker Capital Investments LLC now owns 3,851 shares of the company’s stock valued at $314,000 after buying an additional 121 shares during the period. Hazlett Burt & Watson Inc. increased its stake in Sysco by 6.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock valued at $165,000 after acquiring an additional 135 shares during the period. Geller Advisors LLC raised its position in Sysco by 4.2% in the first quarter. Geller Advisors LLC now owns 3,362 shares of the company’s stock worth $276,000 after purchasing an additional 136 shares in the last quarter. Quent Capital LLC raised its position in Sysco by 5.0% in the fourth quarter. Quent Capital LLC now owns 2,948 shares of the company’s stock worth $216,000 after purchasing an additional 140 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in Sysco by 1.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 8,972 shares of the company’s stock worth $666,000 after purchasing an additional 153 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Sysco Price Performance

Shares of SYY stock opened at $75.84 on Wednesday. The stock’s fifty day moving average is $79.60 and its 200-day moving average is $74.22. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.80 and a current ratio of 1.37. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The stock has a market capitalization of $37.76 billion, a PE ratio of 18.54, a PEG ratio of 1.54 and a beta of 1.15.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The firm had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.32 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The company’s revenue was up 3.7% on a year-over-year basis. Equities research analysts expect that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.64%. The ex-dividend date is Thursday, April 4th. Sysco’s dividend payout ratio (DPR) is presently 48.90%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Barclays increased their target price on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Stephens lifted their price objective on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. upped their target price on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Finally, BMO Capital Markets lifted their price target on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.38.

Insider Buying and Selling

In other news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.58% of the stock is currently owned by corporate 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.