GAMMA Investing LLC Buys New Stake in Sysco Co. (NYSE:SYY)

GAMMA Investing LLC purchased a new position in shares of Sysco Co. (NYSE:SYY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,625 shares of the company’s stock, valued at approximately $293,000.

Other institutional investors also recently made changes to their positions in the company. AdvisorNet Financial Inc increased its position in Sysco by 74.0% during the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after purchasing an additional 159 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Sysco by 74.6% during the 3rd quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock worth $28,000 after purchasing an additional 179 shares during the last quarter. BluePath Capital Management LLC purchased a new stake in shares of Sysco during the third quarter worth about $38,000. Milestone Investment Advisors LLC acquired a new position in shares of Sysco in the third quarter valued at approximately $40,000. Finally, AllSquare Wealth Management LLC purchased a new position in shares of Sysco during the third quarter valued at approximately $42,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Barclays increased their price target on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. BMO Capital Markets increased their target price on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research 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. JPMorgan Chase & Co. raised their target price on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Finally, Stephens upped their price target on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $85.38.

Insider Buying and Selling at Sysco

In other news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction 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 directly owns 24,082 shares of the company’s stock, valued at $1,926,560. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.58% of the stock is owned by corporate insiders.

Sysco Stock Performance

Shares of SYY stock opened at $77.29 on Thursday. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00. The company has a market cap of $38.48 billion, a PE ratio of 18.90, a P/E/G ratio of 1.57 and a beta of 1.15. The company’s fifty day simple moving average is $79.26 and its 200-day simple moving average is $74.67. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The company had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.32 billion. During the same period last year, the company posted $0.80 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Sysco Co. will post 4.3 EPS for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Thursday, April 4th. Sysco’s dividend payout ratio is presently 48.90%.

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.