Franklin Street Advisors Inc. NC Increases Stock Position in Sysco Co. (NYSE:SYY)

Franklin Street Advisors Inc. NC raised its position in Sysco Co. (NYSE:SYY) by 45.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,047 shares of the company’s stock after buying an additional 1,567 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Sysco were worth $369,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SYY. Vontobel Holding Ltd. raised its position in shares of Sysco by 166.0% during the 1st quarter. Vontobel Holding Ltd. now owns 16,127 shares of the company’s stock worth $1,338,000 after purchasing an additional 10,065 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Sysco by 6.9% during the first quarter. Sei Investments Co. now owns 258,746 shares of the company’s stock valued at $21,068,000 after acquiring an additional 16,772 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Sysco by 12.9% in the first quarter. Cetera Investment Advisers now owns 22,139 shares of the company’s stock valued at $1,808,000 after acquiring an additional 2,522 shares in the last quarter. Baird Financial Group Inc. boosted its stake in shares of Sysco by 1.0% in the first quarter. Baird Financial Group Inc. now owns 659,712 shares of the company’s stock worth $53,865,000 after acquiring an additional 6,711 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Sysco by 54.8% during the first quarter. Parkside Financial Bank & Trust now owns 833 shares of the company’s stock worth $68,000 after purchasing an additional 295 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Transactions at Sysco

In related news, CAO Neil Russell sold 1,722 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of 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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the topic of several research reports. BMO Capital Markets raised 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. Stephens boosted their target price on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Barclays boosted their price objective on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Finally, JPMorgan Chase & Co. raised their target price on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $85.38.

Sysco Stock Performance

NYSE SYY opened at $81.18 on Friday. The company has a fifty day moving average of $79.56 and a two-hundred day moving average of $73.31. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The company has a market capitalization of $40.41 billion, a PE ratio of 19.85, a P/E/G ratio of 1.67 and a beta of 1.16.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share 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 analysts’ expectations of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 earnings per share. As a group, analysts expect that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.46%. Sysco’s payout ratio is currently 48.90%.

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.