Cwm LLC Purchases 11,963 Shares of Sysco Co. (NYSE:SYY)

Cwm LLC grew its stake in shares of Sysco Co. (NYSE:SYY) by 38.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 43,357 shares of the company’s stock after acquiring an additional 11,963 shares during the period. Cwm LLC’s holdings in Sysco were worth $3,171,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wealthfront Advisers LLC boosted its holdings in Sysco by 263.4% in the 3rd quarter. Wealthfront Advisers LLC now owns 34,007 shares of the company’s stock valued at $2,246,000 after purchasing an additional 24,650 shares during the period. Professional Advisory Services Inc. bought a new position in Sysco in the 4th quarter valued at $20,057,000. Harbour Trust & Investment Management Co bought a new position in Sysco in the 4th quarter valued at $4,623,000. Pacer Advisors Inc. boosted its holdings in Sysco by 40.1% in the 4th quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock valued at $6,014,000 after purchasing an additional 23,558 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Sysco by 16.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock valued at $21,865,000 after purchasing an additional 41,618 shares during the period. 83.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SYY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Barclays lifted their price objective on shares of Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. 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 report on Wednesday, January 31st. Finally, Stephens lifted their price objective on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.38.

Sysco Price Performance

SYY stock opened at $77.29 on Thursday. The firm’s 50-day moving average price is $79.26 and its two-hundred day moving average price is $74.67. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The stock has a market capitalization of $38.48 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.57 and a beta of 1.15. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00.

Sysco (NYSE:SYY) last announced 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. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The company had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.32 billion. During the same quarter in the previous year, the company earned $0.80 earnings per share. Sysco’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities analysts predict that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Announces Dividend

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

Insider Activity at Sysco

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

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.