PFG Investments LLC Has $664,000 Stock Position in Sysco Co. (NYSE:SYY)

PFG Investments LLC reduced its position in shares of Sysco Co. (NYSE:SYY) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,078 shares of the company’s stock after selling 340 shares during the quarter. PFG Investments LLC’s holdings in Sysco were worth $664,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. raised its holdings in shares of Sysco by 1.7% during the 2nd quarter. BlackRock Inc. now owns 32,931,823 shares of the company’s stock valued at $2,443,541,000 after purchasing an additional 549,086 shares in the last quarter. State Street Corp lifted its position in shares of Sysco by 1.5% in the second quarter. State Street Corp now owns 24,451,298 shares of the company’s stock worth $1,814,286,000 after buying an additional 357,246 shares during the last quarter. Invesco Ltd. lifted its position in shares of Sysco by 11.0% in the third quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock worth $717,283,000 after buying an additional 1,076,287 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Sysco by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 8,909,697 shares of the company’s stock worth $686,254,000 after acquiring an additional 161,756 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC increased its holdings in shares of Sysco by 70,686.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,967,508 shares of the company’s stock valued at $532,666,000 after acquiring an additional 6,957,665 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 1.3 %

Shares of SYY opened at $81.94 on Thursday. The stock’s 50-day moving average price is $79.42 and its 200 day moving average price is $73.25. 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 firm has a market capitalization of $40.79 billion, a price-to-earnings ratio of 20.03, a P/E/G ratio of 1.65 and a beta of 1.16. Sysco Co. has a 12-month low of $62.24 and a 12-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, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. Sysco’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 earnings per share. As a group, research analysts predict that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.00 annualized dividend and a dividend yield of 2.44%. Sysco’s dividend payout ratio (DPR) is currently 48.90%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at $1,926,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is currently owned by insiders.

Sysco 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.