Agate Pass Investment Management LLC Increases Holdings in Sysco Co. (NYSE:SYY)

Agate Pass Investment Management LLC grew its holdings in Sysco Co. (NYSE:SYY) by 10.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 16,949 shares of the company’s stock after buying an additional 1,638 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Sysco were worth $1,296,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Capital Investment Advisors LLC lifted its stake in Sysco by 1.9% in the fourth quarter. Capital Investment Advisors LLC now owns 11,365 shares of the company’s stock worth $869,000 after acquiring an additional 213 shares during the period. Brookstone Capital Management lifted its position in shares of Sysco by 6.4% in the 4th quarter. Brookstone Capital Management now owns 16,101 shares of the company’s stock worth $1,231,000 after purchasing an additional 965 shares during the period. Fiduciary Alliance LLC boosted its stake in shares of Sysco by 7.6% during the 4th quarter. Fiduciary Alliance LLC now owns 3,198 shares of the company’s stock valued at $245,000 after purchasing an additional 226 shares in the last quarter. Clark & Stuart Inc purchased a new position in shares of Sysco during the fourth quarter valued at about $7,613,000. Finally, Czech National Bank lifted its holdings in Sysco by 6.3% in the fourth quarter. Czech National Bank now owns 106,508 shares of the company’s stock worth $8,144,000 after buying an additional 6,332 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SYY. Melius began coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 18th. Wells Fargo & Company dropped their price objective 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, Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $85.93.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction 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 owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,306 shares of company stock worth $6,485,050. Insiders own 0.54% of the company’s stock.

Sysco Stock Performance

Shares of NYSE SYY traded down $0.03 during midday trading on Monday, hitting $73.56. 801,587 shares of the company’s stock traded hands, compared to its average volume of 1,734,854. The firm has a fifty day moving average of $77.02 and a 200 day moving average of $75.75. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The stock has a market capitalization of $36.13 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 2.10 and a beta of 1.18. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89.

Sysco (NYSE:SYY) last released 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 company had revenue of $20.48 billion for 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%. Sysco’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 earnings per share. On average, analysts forecast that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.77%. Sysco’s payout ratio is 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.