Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Sysco Co. (NYSE:SYY)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Sysco Co. (NYSE:SYY) by 9.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,060 shares of the company’s stock after buying an additional 9,363 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sysco were worth $8,186,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Sowell Financial Services LLC grew its holdings in Sysco by 19.1% during the 4th quarter. Sowell Financial Services LLC now owns 17,483 shares of the company’s stock valued at $1,337,000 after buying an additional 2,809 shares in the last quarter. Amundi boosted its holdings in shares of Sysco by 42.2% in the 4th quarter. Amundi now owns 2,730,010 shares of the company’s stock worth $204,341,000 after purchasing an additional 809,582 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Sysco by 134.0% in the 4th quarter. Larson Financial Group LLC now owns 5,227 shares of the company’s stock worth $400,000 after purchasing an additional 2,993 shares during the period. HM Payson & Co. boosted its holdings in shares of Sysco by 0.8% in the 4th quarter. HM Payson & Co. now owns 19,160 shares of the company’s stock worth $1,465,000 after purchasing an additional 150 shares during the period. Finally, AMF Tjanstepension AB boosted its holdings in shares of Sysco by 417.2% in the 4th quarter. AMF Tjanstepension AB now owns 162,059 shares of the company’s stock worth $12,391,000 after purchasing an additional 130,727 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of SYY stock opened at $72.63 on Friday. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33. The stock has a market capitalization of $35.53 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 1.88 and a beta of 1.11. The stock has a fifty day simple moving average of $73.32 and a two-hundred day simple moving average of $75.54. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last issued its quarterly earnings data 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 return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the company posted $0.89 earnings per share. On average, analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed 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 dividend yield of 2.81%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was 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 directly 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 SEC, which is available through this link. 0.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SYY has been the subject of a number of recent research reports. Barclays dropped their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Melius Research upgraded Sysco to a “hold” rating in a report on Wednesday, December 18th. Jefferies Financial Group lifted their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Melius assumed coverage on Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average target price 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.