Sysco Co. (NYSE:SYY) Stake Increased by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its stake in Sysco Co. (NYSE:SYY) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 274,901 shares of the company’s stock after acquiring an additional 8,645 shares during the quarter. Handelsbanken Fonder AB’s holdings in Sysco were worth $20,104,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Hunter Associates Investment Management LLC increased its stake in shares of Sysco by 1.5% in the fourth quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock worth $606,000 after acquiring an additional 125 shares during the last quarter. Hazlett Burt & Watson Inc. increased its stake in shares of Sysco by 6.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock worth $165,000 after acquiring an additional 135 shares during the last quarter. Quent Capital LLC increased its stake in shares of Sysco by 5.0% in the fourth quarter. Quent Capital LLC now owns 2,948 shares of the company’s stock worth $216,000 after acquiring an additional 140 shares during the last quarter. DeDora Capital Inc. increased its stake in shares of Sysco by 2.6% in the fourth quarter. DeDora Capital Inc. now owns 6,145 shares of the company’s stock worth $449,000 after acquiring an additional 157 shares during the last quarter. Finally, AdvisorNet Financial Inc increased its stake in shares of Sysco by 74.0% in the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after acquiring an additional 159 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Trading Up 0.8 %

Shares of NYSE:SYY opened at $77.33 on Tuesday. The company has a market cap of $38.50 billion, a P/E ratio of 18.91, a P/E/G ratio of 1.56 and a beta of 1.15. The stock’s 50-day moving average is $79.33 and its 200-day moving average is $74.55. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.80 and a current ratio of 1.37.

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

Sysco Dividend Announcement

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

Insider Activity

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 value of $137,760.00. Following the completion of 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 filing with the SEC, which can be accessed through this link. 0.58% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Barclays upped 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. Stephens increased their target price 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. JPMorgan Chase & Co. increased 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. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Finally, BMO Capital Markets increased their target price 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 investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.38.

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.