J. Goldman & Co LP Invests $17.15 Million in Sysco Co. (NYSE:SYY)

J. Goldman & Co LP acquired a new stake in shares of Sysco Co. (NYSE:SYY) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 224,324 shares of the company’s stock, valued at approximately $17,152,000.

Several other large investors have also recently made changes to their positions in SYY. MV Capital Management Inc. grew its holdings in Sysco by 0.4% in the 4th quarter. MV Capital Management Inc. now owns 34,330 shares of the company’s stock worth $2,625,000 after acquiring an additional 144 shares during the last quarter. Morton Community Bank increased its holdings in shares of Sysco by 0.4% during the fourth quarter. Morton Community Bank now owns 40,585 shares of the company’s stock valued at $3,103,000 after acquiring an additional 145 shares in the last quarter. Nemes Rush Group LLC lifted its stake in shares of Sysco by 5.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company’s stock worth $201,000 after buying an additional 147 shares in the last quarter. SRS Capital Advisors Inc. increased 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 worth $33,000 after purchasing an additional 149 shares in the last quarter. Finally, FineMark National Bank & Trust raised its position in Sysco by 1.8% in the 4th quarter. FineMark National Bank & Trust now owns 8,580 shares of the company’s stock worth $656,000 after buying an additional 149 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sysco news, Director Sheila Talton sold 356 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director now directly owns 12,738 shares in the company, valued at $902,359.92. This represents a 2.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Sysco Stock Down 1.2 %

SYY stock opened at $70.77 on Friday. The firm has a market cap of $34.31 billion, a PE ratio of 18.19, a PEG ratio of 1.88 and a beta of 0.80. Sysco Co. has a one year low of $67.12 and a one year high of $82.23. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The firm’s 50 day moving average price is $72.16 and its 200-day moving average price is $74.13.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). The business had revenue of $19.60 billion for the quarter, compared to analysts’ expectations of $20.11 billion. Sysco had a return on equity of 106.30% and a net margin of 2.40%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.96 earnings per share. On average, equities research analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.05%. This is an increase from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco’s payout ratio is 55.96%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Barclays cut their price target on Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Morgan Stanley reduced their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. UBS Group decreased their price target on shares of Sysco from $86.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Finally, BMO Capital Markets dropped their price objective on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.38.

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.