Sysco Co. (NYSE:SYY) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Sysco Co. (NYSE:SYY) by 16.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 298,982 shares of the company’s stock after acquiring an additional 41,618 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Sysco worth $21,865,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc grew its position in Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after acquiring an additional 159 shares during the period. Hexagon Capital Partners LLC grew its position in Sysco by 74.6% during the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock valued at $28,000 after acquiring an additional 179 shares during the period. Sunbelt Securities Inc. purchased a new stake in Sysco during the first quarter valued at about $32,000. Tyler Stone Wealth Management purchased a new stake in shares of Sysco in the second quarter worth about $37,000. Finally, MayTech Global Investments LLC purchased a new stake in shares of Sysco in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 0.5 %

Shares of NYSE SYY opened at $75.44 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. The stock’s 50 day moving average price is $79.52 and its two-hundred day moving average price is $74.23. The stock has a market capitalization of $37.56 billion, a P/E ratio of 18.44, a PEG ratio of 1.55 and a beta of 1.15. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89.

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

Sysco Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Thursday, April 4th. Sysco’s payout ratio is currently 48.90%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Stephens upped 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. JPMorgan Chase & Co. upped 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. BMO Capital Markets boosted their price target on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, Barclays boosted their price target on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and a consensus target price of $85.38.

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.58% of the stock is currently owned by corporate insiders.

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.