Cambridge Financial Group Inc. Makes New Investment in Sysco Co. (NYSE:SYY)

Cambridge Financial Group Inc. acquired a new position in shares of Sysco Co. (NYSE:SYY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 99,740 shares of the company’s stock, valued at approximately $7,626,000. Sysco comprises 3.2% of Cambridge Financial Group Inc.’s holdings, making the stock its 18th largest position.

Several other hedge funds also recently modified their holdings of the stock. Townsquare Capital LLC boosted its holdings in shares of Sysco by 10.0% in the 3rd quarter. Townsquare Capital LLC now owns 18,758 shares of the company’s stock valued at $1,464,000 after buying an additional 1,706 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Sysco by 17.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,918,365 shares of the company’s stock valued at $305,868,000 after acquiring an additional 569,058 shares during the last quarter. Financial Counselors Inc. grew its position in shares of Sysco by 5.0% in the 3rd quarter. Financial Counselors Inc. now owns 10,794 shares of the company’s stock valued at $843,000 after acquiring an additional 516 shares during the period. Vinva Investment Management Ltd increased its stake in shares of Sysco by 13.7% during the 3rd quarter. Vinva Investment Management Ltd now owns 23,133 shares of the company’s stock worth $1,797,000 after purchasing an additional 2,782 shares during the last quarter. Finally, Isthmus Partners LLC raised its holdings in shares of Sysco by 2.4% in the 3rd quarter. Isthmus Partners LLC now owns 151,405 shares of the company’s stock valued at $11,819,000 after purchasing an additional 3,615 shares during the period. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SYY shares. Melius Research raised Sysco to a “hold” rating in a research report on Wednesday, December 18th. Truist Financial decreased their target price on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company raised their price target on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Insider Activity

In related news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by corporate insiders.

Sysco Trading Up 0.1 %

Shares of NYSE:SYY opened at $74.10 on Friday. The company has a market capitalization of $36.25 billion, a P/E ratio of 19.05, a P/E/G 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. The business’s 50 day simple moving average is $72.99 and its 200 day simple moving average is $75.15. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.23.

Sysco (NYSE:SYY) last issued 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 return on equity of 106.30% and a net margin of 2.40%. During the same period in the previous year, the company earned $0.89 EPS. On average, research analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

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 given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio is 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.