Isthmus Partners LLC Boosts Position in Sysco Co. (NYSE:SYY)

Isthmus Partners LLC boosted its position in shares of Sysco Co. (NYSE:SYY) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 151,405 shares of the company’s stock after acquiring an additional 3,615 shares during the quarter. Isthmus Partners LLC’s holdings in Sysco were worth $11,819,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SYY. TruNorth Capital Management LLC purchased a new stake in Sysco during the second quarter valued at $25,000. Armstrong Advisory Group Inc. increased its position in Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Sysco during the third quarter valued at $26,000. Valley Wealth Managers Inc. purchased a new stake in Sysco during the third quarter valued at $31,000. Finally, Focused Wealth Management Inc purchased a new stake in Sysco during the third quarter valued at $37,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling

In related news, Director Sheila Talton sold 2,900 shares of Sysco 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 transaction, the director now owns 12,955 shares in the company, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SYY shares. Wells Fargo & Company reduced their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Jefferies Financial Group upped their price target on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $85.77.

Sysco Price Performance

Shares of Sysco stock opened at $76.65 on Friday. The firm has a market cap of $37.65 billion, a PE ratio of 19.70, a PEG ratio of 2.01 and a beta of 1.20. The stock has a 50 day moving average of $75.75 and a 200 day moving average of $74.78. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share 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%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the business posted $1.07 earnings per share. On average, research analysts expect that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Friday, January 3rd. Sysco’s payout ratio is 52.44%.

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.