Mondrian Investment Partners LTD Acquires Shares of 1,699,504 Sysco Co. (NYSE:SYY)

Mondrian Investment Partners LTD acquired a new position in shares of Sysco Co. (NYSE:SYY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,699,504 shares of the company’s stock, valued at approximately $123,928,000. Sysco comprises approximately 2.1% of Mondrian Investment Partners LTD’s holdings, making the stock its 22nd biggest position. Mondrian Investment Partners LTD owned 0.35% of Sysco at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Assetmark Inc. grew its stake in Sysco by 18.6% in the third quarter. Assetmark Inc. now owns 1,230 shares of the company’s stock valued at $96,000 after acquiring an additional 193 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Sysco in the third quarter valued at $26,000. Harbour Investments Inc. raised its stake in shares of Sysco by 23.6% in the third quarter. Harbour Investments Inc. now owns 7,419 shares of the company’s stock valued at $579,000 after buying an additional 1,416 shares during the period. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Sysco in the third quarter valued at $227,000. Finally, Aptus Capital Advisors LLC grew its position in Sysco by 4.1% during the third quarter. Aptus Capital Advisors LLC now owns 4,806 shares of the company’s stock worth $375,000 after buying an additional 190 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Insider Transactions at Sysco

In other 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 value of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.54% of the stock is owned by corporate insiders.

Sysco Stock Performance

Sysco stock opened at $72.63 on Friday. The company has a market capitalization of $35.53 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. 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 Co. has a 12-month low of $69.03 and a 12-month high of $82.33. The firm’s fifty day moving average price is $73.32 and its 200 day moving average price is $75.54.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS 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 prior year, the business posted $0.89 EPS. On average, research analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.81%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio is 52.44%.

Wall Street Analyst Weigh In

SYY has been the subject of several research analyst reports. UBS Group dropped their price target on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley cut their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Barclays cut their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. decreased their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, Wells Fargo & Company raised their price objective on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

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.