Jacobs & Co. CA Increases Position in Sysco Co. (NYSE:SYY)

Jacobs & Co. CA raised its position in Sysco Co. (NYSE:SYY) by 1.8% during the fourth quarter, Holdings Channel reports. The firm owned 123,935 shares of the company’s stock after buying an additional 2,153 shares during the quarter. Jacobs & Co. CA’s holdings in Sysco were worth $9,063,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Hexagon Capital Partners LLC increased its holdings in Sysco by 74.6% in 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 last quarter. Sunbelt Securities Inc. acquired a new position in Sysco in the first quarter valued at $32,000. CGC Financial Services LLC acquired a new position in Sysco in the second quarter valued at $33,000. Intrepid Capital Management Inc. acquired a new stake in shares of Sysco during the second quarter worth about $35,000. Finally, Tyler Stone Wealth Management acquired a new stake in Sysco in the second quarter valued at about $37,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 1.3 %

Sysco stock opened at $81.94 on Thursday. 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 firm has a 50-day moving average price of $79.42 and a two-hundred day moving average price of $73.25. The firm has a market capitalization of $40.79 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 1.65 and a beta of 1.16. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly 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 company had revenue of $19.29 billion during the quarter, compared to analyst estimates of $19.32 billion. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 EPS. Sell-side analysts expect that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Thursday, April 4th. Sysco’s dividend payout ratio is currently 48.90%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Sysco

In other news, CAO Neil Russell sold 1,722 shares of the business’s 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 sale, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.58% of the company’s stock.

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.