Emfo LLC Boosts Position in Sysco Co. (NYSE:SYY)

Emfo LLC lifted its holdings in Sysco Co. (NYSE:SYY) by 76.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,168 shares of the company’s stock after acquiring an additional 1,377 shares during the period. Emfo LLC’s holdings in Sysco were worth $232,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. VELA Investment Management LLC lifted its position in Sysco by 1.4% during the 4th quarter. VELA Investment Management LLC now owns 61,824 shares of the company’s stock worth $4,521,000 after acquiring an additional 827 shares in the last quarter. Keel Point LLC purchased a new position in shares of Sysco in the fourth quarter valued at $223,000. Waldron Private Wealth LLC grew its holdings in Sysco by 8.1% during the 4th quarter. Waldron Private Wealth LLC now owns 8,980 shares of the company’s stock valued at $656,000 after purchasing an additional 674 shares in the last quarter. Lecap Asset Management Ltd. purchased a new stake in Sysco during the 4th quarter worth $1,095,000. Finally, Louisiana State Employees Retirement System acquired a new position in Sysco in the 4th quarter worth $2,230,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

SYY stock traded up $0.40 during mid-day trading on Monday, reaching $75.65. The company had a trading volume of 2,106,258 shares, compared to its average volume of 2,967,091. The stock’s 50-day simple moving average is $79.80 and its two-hundred day simple moving average is $74.09. The stock has a market capitalization of $37.66 billion, a P/E ratio of 18.58, a P/E/G ratio of 1.53 and a beta of 1.15. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. Sysco Co. has a one year low of $62.24 and a one year high of $82.89.

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

Sysco Announces Dividend

The firm 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 dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Thursday, April 4th. Sysco’s payout ratio is currently 48.90%.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of recent analyst reports. Barclays raised their price target on shares of Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Stephens lifted their price target on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. BMO Capital Markets upped their price objective on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Finally, JPMorgan Chase & Co. raised their price objective on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.38.

Insider Transactions at Sysco

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

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.