Sysco Co. (NYSE:SYY) Shares Bought by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC boosted its position in shares of Sysco Co. (NYSE:SYY) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 77,367 shares of the company’s stock after buying an additional 2,777 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Sysco were worth $5,658,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYY. Trian Fund Management L.P. acquired a new stake in Sysco during the third quarter valued at $80,812,000. Invesco Ltd. grew its position in Sysco by 11.0% during 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 grew its position in Sysco by 1,591.5% during 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. grew its position in Sysco by 3,671.0% during 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 purchased a new position in Sysco during the fourth quarter valued at $32,976,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

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

Sysco Stock Performance

NYSE:SYY opened at $77.07 on Friday. The company’s 50-day moving average price is $79.16 and its 200-day moving average price is $74.78. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00. The company has a market cap of $38.37 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.57 and a beta of 1.15. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $19.32 billion. During the same period last year, the business earned $0.80 earnings per share. Sysco’s revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts forecast that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be given a dividend of $0.51 per share. This is a boost from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a yield of 2.65%. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio (DPR) is presently 48.90%.

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.