Inscription Capital LLC Takes $200,000 Position in Sysco Corporation (NYSE:SYY)

Inscription Capital LLC bought a new position in shares of Sysco Corporation (NYSE:SYY) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,465 shares of the company’s stock, valued at approximately $200,000.

Several other hedge funds have also added to or reduced their stakes in SYY. NorthCrest Asset Manangement LLC increased its position in Sysco by 4.9% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company’s stock worth $226,000 after buying an additional 139 shares during the period. MV Capital Management Inc. increased its position in Sysco by 0.4% during the fourth 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 period. Morton Community Bank boosted its holdings in Sysco by 0.4% in the 4th quarter. Morton Community Bank now owns 40,585 shares of the company’s stock valued at $3,103,000 after purchasing an additional 145 shares during the period. Nemes Rush Group LLC grew its position in shares of Sysco by 5.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,631 shares of the company’s stock worth $201,000 after purchasing an additional 147 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its holdings in shares of Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after purchasing an additional 149 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

Sysco stock opened at $73.97 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37. The stock has a market cap of $35.86 billion, a PE ratio of 19.16, a P/E/G ratio of 2.40 and a beta of 0.81. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $82.23. The business’s 50-day moving average price is $72.23 and its two-hundred day moving average price is $73.64.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). The company had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. Sysco’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 earned $0.96 earnings per share. As a group, analysts expect that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company 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 2.92%. This is a boost from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco’s dividend payout ratio is presently 52.85%.

Insider Activity at Sysco

In other news, Director Sheila Talton sold 356 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the transaction, the director now owns 12,738 shares of the company’s stock, valued at $902,359.92. This represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SYY. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, May 20th. Citigroup assumed coverage on Sysco in a research note on Thursday, May 22nd. They set a “neutral” rating and a $78.00 price objective on the stock. Wells Fargo & Company cut their target price on Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. UBS Group reduced their target price on Sysco from $86.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Finally, Wall Street Zen cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

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.