Stockman Wealth Management Inc. Boosts Stock Position in Sysco Co. (NYSE:SYY)

Stockman Wealth Management Inc. grew its position in Sysco Co. (NYSE:SYY) by 3.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 82,739 shares of the company’s stock after buying an additional 3,129 shares during the period. Stockman Wealth Management Inc.’s holdings in Sysco were worth $6,051,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Trian Fund Management L.P. acquired a new stake in shares of Sysco in the third quarter valued at $80,812,000. Invesco Ltd. lifted its holdings in shares of Sysco by 11.0% in the third quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock valued at $717,283,000 after buying an additional 1,076,287 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Sysco by 1,591.5% in the third quarter. Acadian Asset Management LLC now owns 764,235 shares of the company’s stock valued at $50,462,000 after buying an additional 719,054 shares during the period. Becker Capital Management Inc. lifted its holdings in shares of Sysco by 3,671.0% in the third quarter. Becker Capital Management Inc. now owns 470,888 shares of the company’s stock valued at $31,102,000 after buying an additional 458,401 shares during the period. Finally, Vaughan David Investments LLC IL acquired a new stake in shares of Sysco in the fourth quarter valued at $32,976,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Up 0.8 %

NYSE:SYY traded up $0.60 during trading hours on Monday, hitting $77.33. 2,600,689 shares of the company’s stock traded hands, compared to its average volume of 2,926,738. The firm has a market cap of $38.50 billion, a P/E ratio of 18.91, a P/E/G ratio of 1.56 and a beta of 1.15. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.80 and a current ratio of 1.37. The stock’s fifty day moving average price is $79.33 and its two-hundred day moving average price is $74.55.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. Sysco’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 earnings per share. On average, research analysts expect that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be paid a $0.50 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.59%. Sysco’s dividend payout ratio (DPR) is currently 48.90%.

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets boosted their target price on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. boosted their target price on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Stephens boosted their target price on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Finally, Barclays boosted their target price on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $85.38.

Sysco Company 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.