Sysco Co. (NYSE:SYY) Shares Acquired by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. lifted its position in shares of Sysco Co. (NYSE:SYY) by 27.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,092 shares of the company’s stock after acquiring an additional 1,300 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Sysco were worth $446,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. AdvisorNet Financial Inc increased its stake in shares of Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $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 worth $28,000 after buying an additional 179 shares during the period. Sunbelt Securities Inc. acquired a new position in Sysco during the first quarter worth about $32,000. Tyler Stone Wealth Management acquired a new position in Sysco during the second quarter worth about $37,000. Finally, MayTech Global Investments LLC acquired a new position in Sysco during the fourth quarter worth about $38,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Sysco news, CAO Neil Russell sold 1,722 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the transaction, 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 legal filing with the SEC, which is accessible through the SEC website. 0.58% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SYY. Barclays upped their target price 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. BMO Capital Markets upped their price target on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” 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. JPMorgan Chase & Co. upped their price target on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Finally, Stephens upped their price target on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.38.

Sysco Stock Performance

Shares of SYY opened at $75.84 on Wednesday. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.80 and a current ratio of 1.37. The company has a market capitalization of $37.76 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.54 and a beta of 1.15. The company’s 50 day simple moving average is $79.60 and its 200 day simple moving average is $74.22. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89.

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

Sysco Dividend Announcement

The business 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 2.64%. The ex-dividend date is Thursday, April 4th. Sysco’s dividend payout ratio is currently 48.90%.

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.