NBC Securities Inc. Has $4.38 Million Stake in Sysco Co. (NYSE:SYY)

NBC Securities Inc. increased its stake in shares of Sysco Co. (NYSE:SYY) by 102,415.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,434 shares of the company’s stock after buying an additional 58,377 shares during the period. NBC Securities Inc.’s holdings in Sysco were worth $4,384,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SYY. Vanguard Group Inc. raised its stake in shares of Sysco by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company’s stock valued at $4,703,775,000 after purchasing an additional 429,711 shares during the period. Invesco Ltd. grew its holdings in shares of Sysco by 5.3% during the fourth quarter. Invesco Ltd. now owns 16,907,541 shares of the company’s stock worth $1,292,751,000 after buying an additional 851,441 shares in the last quarter. Boston Partners raised its position in Sysco by 143.7% in the 4th quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after buying an additional 7,184,754 shares during the last quarter. Geode Capital Management LLC lifted its stake in Sysco by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company’s stock valued at $905,120,000 after acquiring an additional 233,885 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in Sysco by 27.3% during the 4th quarter. Capital Research Global Investors now owns 8,991,476 shares of the company’s stock worth $687,488,000 after acquiring an additional 1,928,002 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sysco

In other news, Director Sheila Talton sold 356 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the sale, the director now owns 12,738 shares of the company’s stock, valued at approximately $902,359.92. This represents a 2.72% 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. 0.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays lowered their price target on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Wall Street Zen downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. increased their price target on Sysco from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, May 20th. Wells Fargo & Company decreased their price target on Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Finally, UBS Group dropped their price objective on Sysco from $86.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and an average price target of $83.00.

Sysco Stock Up 1.3%

SYY opened at $72.99 on Monday. Sysco Co. has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The firm has a market capitalization of $35.38 billion, a P/E ratio of 18.76, a PEG ratio of 1.88 and a beta of 0.80. The company’s 50-day moving average is $71.73 and its 200 day moving average is $73.74. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). The company had revenue of $19.60 billion for the quarter, compared to analysts’ expectations of $20.11 billion. Sysco had a return on equity of 106.30% and a net margin of 2.40%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.96 EPS. Research analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Thursday, July 3rd. This is a positive change from Sysco’s previous quarterly dividend of $0.51. Sysco’s payout ratio is 55.96%.

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.