Chicago Partners Investment Group LLC Raises Stake in Sysco Co. (NYSE:SYY)

Chicago Partners Investment Group LLC boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 8,633 shares of the company’s stock after purchasing an additional 310 shares during the period. Chicago Partners Investment Group LLC’s holdings in Sysco were worth $644,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TruNorth Capital Management LLC acquired a new position in shares of Sysco during the second quarter worth about $25,000. Armstrong Advisory Group Inc. increased its stake in shares of Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after acquiring an additional 310 shares during the period. Fairscale Capital LLC acquired a new position in shares of Sysco during the second quarter worth about $38,000. Canoe Financial LP acquired a new position in shares of Sysco during the third quarter worth about $38,000. Finally, LRI Investments LLC acquired a new position in shares of Sysco during the first quarter worth about $45,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SYY. Jefferies Financial Group boosted their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Bank of America decreased their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. JPMorgan Chase & Co. boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Morgan Stanley decreased their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Finally, Wells Fargo & Company decreased their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average target price of $85.77.

Sysco Price Performance

Shares of SYY stock opened at $75.37 on Tuesday. The company has a market capitalization of $37.02 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 1.96 and a beta of 1.20. The firm has a fifty day simple moving average of $76.16 and a 200-day simple moving average of $74.73. The company has a current ratio of 1.26, a quick ratio of 0.69 and a debt-to-equity ratio of 5.38. Sysco Co. has a twelve month low of $66.27 and a twelve month high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. During the same quarter last year, the company earned $1.07 earnings per share. The company’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were given a $0.51 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.71%. Sysco’s payout ratio is currently 52.44%.

Insider Transactions at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.54% of the company’s stock.

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.