Fidelis Capital Partners LLC Takes Position in Sysco Co. (NYSE:SYY)

Fidelis Capital Partners LLC bought a new stake in Sysco Co. (NYSE:SYY) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,435 shares of the company’s stock, valued at approximately $324,000.

A number of other institutional investors have also modified their holdings of SYY. Moneta Group Investment Advisors LLC raised its stake in Sysco by 70,686.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,967,508 shares of the company’s stock worth $532,666,000 after acquiring an additional 6,957,665 shares during the period. Norges Bank acquired a new stake in Sysco during the fourth quarter worth about $397,373,000. Morgan Stanley raised its stake in Sysco by 34.8% during the fourth quarter. Morgan Stanley now owns 6,459,895 shares of the company’s stock worth $493,859,000 after acquiring an additional 1,666,008 shares during the period. Imprint Wealth LLC raised its stake in Sysco by 7,204.3% during the second quarter. Imprint Wealth LLC now owns 1,293,809 shares of the company’s stock worth $129,381,000 after acquiring an additional 1,276,096 shares during the period. Finally, Trian Fund Management L.P. acquired a new stake in Sysco during the third quarter worth about $80,812,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Trading Up 1.4 %

Shares of NYSE:SYY opened at $76.73 on Friday. The firm has a fifty day moving average of $79.39 and a two-hundred day moving average of $74.32. The firm has a market capitalization of $38.20 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00.

Sysco (NYSE:SYY) last issued 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 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 company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. On average, equities analysts expect that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Thursday, April 4th. Sysco’s dividend payout ratio (DPR) is currently 48.90%.

Insider Activity at Sysco

In related news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction 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 owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.58% of the stock is owned by company insiders.

Analysts Set New Price Targets

SYY has been the topic of several research reports. JPMorgan Chase & Co. increased 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. Barclays increased their price objective 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. Stephens lifted their price target on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Finally, BMO Capital Markets lifted their price objective on shares of Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.38.

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.