Envestnet Portfolio Solutions Inc. Raises Stake in Sysco Co. (NYSE:SYY)

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Sysco Co. (NYSE:SYY) by 13.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,013 shares of the company’s stock after buying an additional 9,269 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Sysco were worth $5,812,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Stonebridge Financial Group LLC purchased a new stake in shares of Sysco during the 4th quarter worth approximately $31,000. Sherman Asset Management Inc. purchased a new stake in shares of Sysco during the 4th quarter worth approximately $31,000. SRS Capital Advisors Inc. lifted its position in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after buying an additional 149 shares during the last quarter. HHM Wealth Advisors LLC lifted its position in shares of Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after buying an additional 321 shares during the last quarter. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Sysco during the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Sysco Stock Performance

NYSE:SYY opened at $74.25 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. The stock has a market cap of $36.33 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The firm’s fifty day simple moving average is $73.27 and its 200-day simple moving average is $75.46.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the previous year, the firm posted $0.89 EPS. Analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.75%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SYY. JPMorgan Chase & Co. cut their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Guggenheim reaffirmed a “buy” rating and issued a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. Barclays cut their target price 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. Jefferies Financial Group lifted their target price on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Wells Fargo & Company lifted their target price on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $84.77.

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.