Flputnam Investment Management Co. Purchases 20,738 Shares of Sysco Co. (NYSE:SYY)

Flputnam Investment Management Co. grew its position in Sysco Co. (NYSE:SYY) by 117.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,407 shares of the company’s stock after buying an additional 20,738 shares during the quarter. Flputnam Investment Management Co.’s holdings in Sysco were worth $2,937,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in Sysco by 10.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 15,997 shares of the company’s stock valued at $1,249,000 after purchasing an additional 1,551 shares during the period. Pinnacle Associates Ltd. increased its holdings in Sysco by 1.4% during the third quarter. Pinnacle Associates Ltd. now owns 25,261 shares of the company’s stock valued at $1,847,000 after buying an additional 351 shares during the period. Creative Financial Designs Inc. ADV raised its stake in Sysco by 5.3% in the third quarter. Creative Financial Designs Inc. ADV now owns 11,320 shares of the company’s stock worth $884,000 after buying an additional 571 shares in the last quarter. CacheTech Inc. lifted its holdings in Sysco by 2.6% during the third quarter. CacheTech Inc. now owns 29,571 shares of the company’s stock worth $2,308,000 after buying an additional 749 shares during the period. Finally, Cambiar Investors LLC boosted its position in Sysco by 40.5% during the 3rd quarter. Cambiar Investors LLC now owns 615,702 shares of the company’s stock valued at $48,062,000 after acquiring an additional 177,425 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Insider Activity at Sysco

In related news, SVP Eve M. Mcfadden sold 6,499 shares of Sysco stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 21,844 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $1,747,520.00. Following the completion of the sale, the executive vice president now owns 60,581 shares in the company, valued at approximately $4,846,480. This represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,370 shares of company stock worth $5,965,519 over the last three months. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on SYY shares. Truist Financial decreased their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Guggenheim reissued a “buy” rating and set a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Morgan Stanley decreased their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Finally, Barclays cut their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Stock Up 1.1 %

Sysco stock opened at $75.53 on Friday. The business’s 50-day simple moving average is $73.66 and its two-hundred day simple moving average is $75.65. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The company has a market cap of $36.95 billion, a PE ratio of 19.42, a PEG ratio of 1.88 and a beta of 1.17. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the company earned $0.89 EPS. Equities analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.70%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

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.