Sysco Co. (NYSE:SYY) Holdings Cut by Northcape Wealth Management LLC

Northcape Wealth Management LLC decreased its position in shares of Sysco Co. (NYSE:SYY) by 2.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,728 shares of the company’s stock after selling 140 shares during the period. Northcape Wealth Management LLC’s holdings in Sysco were worth $346,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SYY. Brighton Jones LLC raised its holdings in shares of Sysco by 0.9% during the 4th quarter. Brighton Jones LLC now owns 119,303 shares of the company’s stock valued at $8,725,000 after purchasing an additional 1,067 shares in the last quarter. Investment House LLC raised its holdings in Sysco by 1.8% during the fourth quarter. Investment House LLC now owns 43,411 shares of the company’s stock valued at $3,175,000 after buying an additional 759 shares in the last quarter. Choreo LLC boosted its stake in shares of Sysco by 83.0% during the 4th quarter. Choreo LLC now owns 9,447 shares of the company’s stock worth $691,000 after acquiring an additional 4,285 shares in the last quarter. Mather Group LLC. increased its holdings in shares of Sysco by 7.7% during the 4th quarter. Mather Group LLC. now owns 6,610 shares of the company’s stock valued at $483,000 after acquiring an additional 470 shares during the last quarter. Finally, Intellectus Partners LLC raised its stake in shares of Sysco by 5.9% in the 4th quarter. Intellectus Partners LLC now owns 14,520 shares of the company’s stock valued at $1,062,000 after acquiring an additional 807 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Down 3.8 %

NYSE SYY opened at $74.32 on Wednesday. The stock’s 50 day moving average is $79.02 and its two-hundred day moving average is $75.11. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89. The company has a market capitalization of $37.00 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.56 and a beta of 1.15. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The business had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company posted $0.90 EPS. Equities analysts forecast that Sysco Co. will post 4.33 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.74%. The ex-dividend date is Friday, July 5th. This is a boost from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio (DPR) is presently 48.90%.

Insider Transactions at Sysco

In related 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 transaction of $137,760.00. Following the transaction, the chief accounting officer now 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 hyperlink. 0.58% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

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.