Jacobi Capital Management LLC Increases Stake in Sysco Co. (NYSE:SYY)

Jacobi Capital Management LLC increased its holdings in shares of Sysco Co. (NYSE:SYY) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,379 shares of the company’s stock after buying an additional 284 shares during the period. Jacobi Capital Management LLC’s holdings in Sysco were worth $1,864,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Metis Global Partners LLC increased its stake in Sysco by 4.5% during the 4th quarter. Metis Global Partners LLC now owns 16,481 shares of the company’s stock worth $1,260,000 after buying an additional 710 shares during the period. Fisher Asset Management LLC increased its stake in Sysco by 19.8% during the 4th quarter. Fisher Asset Management LLC now owns 14,250 shares of the company’s stock worth $1,090,000 after buying an additional 2,358 shares during the period. WR Wealth Planners LLC increased its position in shares of Sysco by 9.9% in the 4th quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock valued at $326,000 after purchasing an additional 386 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Sysco in the 4th quarter valued at approximately $968,000. Finally, Flputnam Investment Management Co. increased its position in shares of Sysco by 117.4% in the 4th quarter. Flputnam Investment Management Co. now owns 38,407 shares of the company’s stock valued at $2,937,000 after purchasing an additional 20,738 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,876,080. This trade represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,370 shares of company stock worth $5,965,519 in the last 90 days. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SYY. Morgan Stanley dropped their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Barclays dropped their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Finally, Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Trading Up 1.1 %

NYSE SYY opened at $75.53 on Friday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The firm’s fifty day moving average price is $73.66 and its 200 day moving average price is $75.65. The company has a market capitalization of $36.95 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the previous year, the company posted $0.89 earnings per share. On average, sell-side analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio is currently 52.44%.

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.