Panoramic Capital Partners LLC Purchases New Shares in Sysco Co. (NYSE:SYY)

Panoramic Capital Partners LLC purchased a new stake in shares of Sysco Co. (NYSE:SYY) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,176 shares of the company’s stock, valued at approximately $549,000. Sysco comprises 0.5% of Panoramic Capital Partners LLC’s portfolio, making the stock its 24th biggest position.

Other large investors have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after acquiring an additional 672,940 shares in the last quarter. Primecap Management Co. CA grew its stake in Sysco by 9.7% in the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock worth $374,410,000 after buying an additional 422,954 shares in the last quarter. Montrusco Bolton Investments Inc. increased its stake in Sysco by 8.5% in the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after acquiring an additional 375,409 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in Sysco by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock worth $332,983,000 after buying an additional 168,163 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the firm’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 $519,920.00. Following the completion of the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,270 shares of company stock worth $6,181,946 over the last 90 days. 0.54% of the stock is owned by insiders.

Sysco Stock Down 1.5 %

SYY opened at $70.07 on Tuesday. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The firm has a 50-day simple moving average of $75.78 and a two-hundred day simple moving average of $75.96. The company has a market capitalization of $34.28 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Analysts forecast 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, January 24th. Investors of record on Friday, January 3rd were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Friday, January 3rd. Sysco’s payout ratio is 52.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SYY. Jefferies Financial Group raised their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. UBS Group lowered their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company lowered their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Guggenheim reissued a “buy” rating and set a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Finally, StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.38.

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.