Avanza Fonder AB Makes New $3.53 Million Investment in Sysco Co. (NYSE:SYY)

Avanza Fonder AB purchased a new stake in Sysco Co. (NYSE:SYY) during the fourth quarter, Holdings Channel reports. The fund purchased 46,215 shares of the company’s stock, valued at approximately $3,534,000.

Several other large investors have also recently made changes to their positions in the stock. Everpar Advisors LLC boosted its holdings in Sysco by 22.4% during the 4th quarter. Everpar Advisors LLC now owns 3,497 shares of the company’s stock valued at $267,000 after acquiring an additional 639 shares during the period. Woodstock Corp boosted its stake in shares of Sysco by 2.1% in the fourth quarter. Woodstock Corp now owns 79,211 shares of the company’s stock valued at $6,056,000 after purchasing an additional 1,616 shares during the period. Empirical Asset Management LLC grew its holdings in shares of Sysco by 895.8% in the fourth quarter. Empirical Asset Management LLC now owns 55,563 shares of the company’s stock valued at $4,248,000 after purchasing an additional 49,983 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Sysco by 1.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 65,394 shares of the company’s stock worth $5,000,000 after buying an additional 1,211 shares during the period. Finally, CHURCHILL MANAGEMENT Corp lifted its holdings in Sysco by 3.8% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 121,208 shares of the company’s stock worth $9,268,000 after buying an additional 4,458 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

Shares of NYSE:SYY opened at $73.02 on Friday. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. The firm has a market capitalization of $35.87 billion, a P/E ratio of 18.77, a P/E/G ratio of 1.93 and a beta of 1.18. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. The company’s fifty day moving average price is $76.80 and its 200 day moving average price is $75.75.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.04). The firm had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.07 earnings per share. As a group, sell-side analysts predict that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.79%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Melius began coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target for the company. Melius Research upgraded Sysco to a “hold” rating in a report on Wednesday, December 18th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 13th. Wells Fargo & Company cut their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their price target on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.93.

Insider Activity

In related news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,306 shares of company stock valued at $6,485,050 in the last ninety days. 0.54% of the stock is currently owned by company insiders.

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.