NEOS Investment Management LLC Acquires 7,364 Shares of Sysco Co. (NYSE:SYY)

NEOS Investment Management LLC boosted its holdings in Sysco Co. (NYSE:SYY) by 31.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,867 shares of the company’s stock after buying an additional 7,364 shares during the quarter. NEOS Investment Management LLC’s holdings in Sysco were worth $2,360,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Fortem Financial Group LLC boosted its holdings in Sysco by 3.6% in the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock worth $296,000 after purchasing an additional 136 shares during the last quarter. Morton Community Bank lifted its holdings in shares of Sysco by 0.4% during the 4th quarter. Morton Community Bank now owns 40,585 shares of the company’s stock valued at $3,103,000 after buying an additional 145 shares during the period. SRS Capital Advisors Inc. boosted its stake in shares of Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after buying an additional 149 shares during the last quarter. FineMark National Bank & Trust grew its holdings in shares of Sysco by 1.8% in the fourth quarter. FineMark National Bank & Trust now owns 8,580 shares of the company’s stock worth $656,000 after acquiring an additional 149 shares during the period. Finally, S.A. Mason LLC increased its position in Sysco by 10.7% during the fourth quarter. S.A. Mason LLC now owns 1,546 shares of the company’s stock valued at $118,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Sysco Price Performance

Shares of Sysco stock opened at $74.10 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.23. The stock’s 50-day simple moving average is $72.99 and its 200-day simple moving average is $75.15. The company has a market capitalization of $36.25 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the prior year, the business posted $0.89 earnings per share. As a group, analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.75%. Sysco’s dividend payout ratio (DPR) is 52.44%.

Analysts Set New Price Targets

SYY has been the subject of a number of recent research reports. Melius started coverage on Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target for the company. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Jefferies Financial Group increased their price target on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Wells Fargo & Company boosted their price objective on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, UBS Group decreased their target price on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco 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.