Founders Grove Wealth Partners LLC Buys Shares of 2,707 Sysco Co. (NYSE:SYY)

Founders Grove Wealth Partners LLC purchased a new stake in Sysco Co. (NYSE:SYY) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,707 shares of the company’s stock, valued at approximately $207,000.

A number of other institutional investors have also recently modified their holdings of the business. State Street Corp boosted its stake in shares of Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after buying an additional 2,721,449 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Sysco by 26.1% in the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after buying an additional 1,782,180 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after buying an additional 672,940 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of Sysco by 9.7% in the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after buying an additional 422,954 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. boosted its stake in shares of 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 buying an additional 375,409 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. The trade was a 18.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,306 shares of company stock valued at $6,485,050. Company insiders own 0.54% of the company’s stock.

Sysco Price Performance

Shares of NYSE:SYY opened at $73.98 on Wednesday. The company has a market cap of $36.34 billion, a P/E ratio of 19.02, a P/E/G ratio of 2.10 and a beta of 1.18. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89. The business has a fifty day simple moving average of $76.94 and a 200-day simple moving average of $75.78.

Sysco (NYSE:SYY) last announced 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). The business had revenue of $20.48 billion during 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 period in the prior year, the firm earned $1.07 EPS. Equities research analysts forecast that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SYY shares. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday. Melius Research raised Sysco to a “hold” rating in a report on Wednesday, December 18th. Jefferies Financial Group lifted their price objective on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, Melius began coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and a consensus target price of $85.93.

About Sysco

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.