Transcend Capital Advisors LLC Purchases Shares of 2,900 Sysco Co. (NYSE:SYY)

Transcend Capital Advisors LLC purchased a new stake in Sysco Co. (NYSE:SYY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,900 shares of the company’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its position in Sysco by 39.9% in the 4th quarter. Russell Investments Group Ltd. now owns 300,746 shares of the company’s stock valued at $21,993,000 after acquiring an additional 85,798 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Sysco during the fourth quarter worth $34,000. Citizens Financial Group Inc. RI increased its position in shares of Sysco by 14.5% during the fourth quarter. Citizens Financial Group Inc. RI now owns 8,470 shares of the company’s stock worth $619,000 after buying an additional 1,070 shares during the period. Bryn Mawr Capital Management LLC increased its position in shares of Sysco by 3.7% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 77,367 shares of the company’s stock worth $5,658,000 after buying an additional 2,777 shares during the period. Finally, Syon Capital LLC increased its position in shares of Sysco by 24.2% during the fourth quarter. Syon Capital LLC now owns 7,505 shares of the company’s stock worth $549,000 after buying an additional 1,464 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Barclays increased their price objective 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. JPMorgan Chase & Co. increased their price objective on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Stephens increased their target price on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Finally, BMO Capital Markets increased their target price on shares of Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note 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 stock. According to MarketBeat, Sysco presently has an average rating of “Moderate Buy” and an average price target of $85.38.

Insider Activity at Sysco

In related news, CAO Neil Russell sold 1,722 shares of the business’s 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 completion of the transaction, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at $1,926,560. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.58% of the stock is owned by corporate insiders.

Sysco Stock Down 3.8 %

Sysco stock opened at $74.32 on Wednesday. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89. The firm has a market capitalization of $37.00 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 1.56 and a beta of 1.15. The firm’s fifty day moving average price is $79.02 and its two-hundred day moving average price is $75.11. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm had revenue of $19.29 billion during 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 revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $0.80 earnings per share. On average, equities research analysts predict that Sysco Co. will post 4.33 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, July 5th. This represents a $2.04 annualized dividend and a yield of 2.74%. This is a boost from Sysco’s previous quarterly dividend of $0.50. Sysco’s 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.