Courier Capital LLC Makes New $214,000 Investment in Sysco Co. (NYSE:SYY)

Courier Capital LLC bought a new position in Sysco Co. (NYSE:SYY) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,640 shares of the company’s stock, valued at approximately $214,000.

Several other institutional investors have also recently bought and sold shares of SYY. Capital World Investors acquired a new position in shares of Sysco during the fourth quarter worth approximately $683,599,000. Norges Bank acquired a new position in shares of Sysco during the fourth quarter worth approximately $450,794,000. Capital Research Global Investors acquired a new position in shares of Sysco during the fourth quarter worth approximately $227,241,000. The Manufacturers Life Insurance Company lifted its position in shares of Sysco by 132.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock worth $267,177,000 after purchasing an additional 2,084,501 shares in the last quarter. Finally, Fiduciary Management Inc. WI lifted its position in shares of Sysco by 92.1% during the fourth quarter. Fiduciary Management Inc. WI now owns 2,619,940 shares of the company’s stock worth $191,596,000 after purchasing an additional 1,255,908 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 1.5 %

Shares of NYSE SYY traded down $1.08 during mid-day trading on Friday, hitting $71.39. The stock had a trading volume of 15,134,734 shares, compared to its average volume of 3,188,659. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The business has a 50 day moving average price of $74.11 and a two-hundred day moving average price of $76.43. The firm has a market cap of $35.55 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 2.08 and a beta of 1.17.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The business had revenue of $19.38 billion during the quarter, compared to analyst estimates of $19.74 billion. During the same quarter in the previous year, the firm earned $0.90 EPS. Sysco’s revenue was up 2.7% on a year-over-year basis. On average, equities analysts anticipate that Sysco Co. will post 4.29 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.86%. This is an increase from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio is presently 48.78%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SYY. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Tuesday, May 28th. BMO Capital Markets lowered their price objective on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Barclays lowered their price target on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Finally, Morgan Stanley lowered their price target on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.90.

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.