Geode Capital Management LLC Increases Position in Sysco Co. (NYSE:SYY)

Geode Capital Management LLC boosted its position in shares of Sysco Co. (NYSE:SYY) by 2.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 11,868,965 shares of the company’s stock after acquiring an additional 233,885 shares during the quarter. Geode Capital Management LLC owned about 2.43% of Sysco worth $905,120,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new stake in shares of Sysco during the fourth quarter worth about $31,000. Sherman Asset Management Inc. purchased a new position in Sysco during the 4th quarter worth approximately $31,000. Flagship Wealth Advisors LLC acquired a new stake in Sysco during the 4th quarter valued at approximately $31,000. SRS Capital Advisors Inc. boosted its holdings in shares of Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after acquiring an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC increased its stake in shares of Sysco by 107.4% in the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after acquiring an additional 321 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays lowered their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. dropped 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. Morgan Stanley decreased their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company raised their price objective on shares of Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group boosted their target price on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $84.77.

Sysco Stock Down 0.2 %

SYY opened at $75.28 on Thursday. The company has a market cap of $36.83 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.23. The company has a 50-day moving average price of $73.11 and a 200 day moving average price of $75.10. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting 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 earned $0.89 earnings per share. Sell-side analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is 52.44%.

About Sysco

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.