IFG Advisory LLC Acquires New Position in SYSCO Co. (SYY)

IFG Advisory LLC acquired a new stake in SYSCO Co. (NYSE:SYY) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 19,076 shares of the company’s stock, valued at approximately $485,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Comerica Securities Inc. grew its position in shares of SYSCO by 67.8% during the 2nd quarter. Comerica Securities Inc. now owns 58,436 shares of the company’s stock worth $2,941,000 after buying an additional 23,608 shares during the period. KCM Investment Advisors LLC grew its position in SYSCO by 5.8% in the 2nd quarter. KCM Investment Advisors LLC now owns 15,716 shares of the company’s stock valued at $791,000 after purchasing an additional 855 shares during the period. Bahl & Gaynor Inc. grew its position in SYSCO by 17.0% in the 2nd quarter. Bahl & Gaynor Inc. now owns 81,988 shares of the company’s stock valued at $4,539,000 after purchasing an additional 11,928 shares during the period. BlackRock Inc. grew its position in SYSCO by 0.3% in the 2nd quarter. BlackRock Inc. now owns 32,291,082 shares of the company’s stock valued at $1,625,211,000 after purchasing an additional 83,464 shares during the period. Finally, Vision Capital Management Inc. grew its position in SYSCO by 23.4% in the 2nd quarter. Vision Capital Management Inc. now owns 72,015 shares of the company’s stock valued at $3,625,000 after purchasing an additional 13,672 shares during the period. Institutional investors and hedge funds own 79.35% of the company’s stock.

Shares of SYSCO Co. (NYSE SYY) opened at $58.35 on Thursday. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.38 and a quick ratio of 0.85. SYSCO Co. has a 12-month low of $48.85 and a 12-month high of $64.27. The firm has a market capitalization of $30,490.49, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 1.96 and a beta of 0.56.

SYSCO (NYSE:SYY) last announced its earnings results on Monday, February 5th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The company had revenue of $14.41 billion during the quarter, compared to the consensus estimate of $14.15 billion. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 earnings per share. equities research analysts forecast that SYSCO Co. will post 2.95 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 5th were issued a $0.36 dividend. This is an increase from SYSCO’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.44 dividend on an annualized basis and a yield of 2.47%. SYSCO’s dividend payout ratio is 64.29%.

In other SYSCO news, SVP Greg D. Bertrand sold 81,038 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total value of $4,923,868.88. Following the completion of the transaction, the senior vice president now owns 69,721 shares in the company, valued at $4,236,247.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP William W. Goetz sold 11,323 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $62.00, for a total value of $702,026.00. Following the completion of the sale, the senior vice president now directly owns 35,825 shares in the company, valued at $2,221,150. The disclosure for this sale can be found here. In the last quarter, insiders sold 144,695 shares of company stock valued at $8,759,223. 9.60% of the stock is owned by corporate insiders.

A number of research firms have issued reports on SYY. Loop Capital lifted their price objective on shares of SYSCO from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Pivotal Research boosted their price objective on SYSCO from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Morgan Stanley upgraded SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target on the stock in a research report on Tuesday, January 16th. Zacks Investment Research upgraded SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 price target on the stock in a research report on Wednesday, January 10th. Finally, BMO Capital Markets set a $66.00 price target on SYSCO and gave the company a “buy” rating in a research report on Friday, December 8th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $65.20.

TRADEMARK VIOLATION WARNING: “IFG Advisory LLC Acquires New Position in SYSCO Co. (SYY)” was first reported by Week Herald and is the sole property of of Week Herald. If you are viewing this story on another site, it was stolen and reposted in violation of United States & international copyright and trademark legislation. The legal version of this story can be viewed at https://weekherald.com/2018/02/15/ifg-advisory-llc-invests-485000-in-sysco-co-syy-stock.html.

About SYSCO

Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.

Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

Receive News & Ratings for SYSCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYSCO and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply