Sysco Co. (NYSE:SYY) Shares Acquired by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in Sysco Co. (NYSE:SYY) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,360 shares of the company’s stock after purchasing an additional 149 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Sysco were worth $2,457,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wealthfront Advisers LLC increased its stake in Sysco by 263.4% in the third quarter. Wealthfront Advisers LLC now owns 34,007 shares of the company’s stock valued at $2,246,000 after purchasing an additional 24,650 shares during the period. Professional Advisory Services Inc. acquired a new position in Sysco in the fourth quarter valued at $20,057,000. Harbour Trust & Investment Management Co acquired a new position in Sysco in the fourth quarter valued at $4,623,000. Pacer Advisors Inc. increased its stake in Sysco by 40.1% in the fourth quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock valued at $6,014,000 after purchasing an additional 23,558 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Sysco by 16.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock valued at $21,865,000 after purchasing an additional 41,618 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Barclays boosted their price objective on shares of Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. boosted their price objective on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Finally, Stephens boosted their price objective on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.38.

Sysco Trading Down 0.4 %

SYY stock traded down $0.34 on Tuesday, hitting $76.98. 709,273 shares of the company were exchanged, compared to its average volume of 2,897,593. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80. The business’s fifty day moving average is $79.33 and its two-hundred day moving average is $74.55. The stock has a market capitalization of $38.32 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 1.56 and a beta of 1.15.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The company had revenue of $19.29 billion during the quarter, compared to analyst estimates of $19.32 billion. During the same quarter in the prior year, the business earned $0.80 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, research analysts forecast that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Thursday, April 4th. Sysco’s payout ratio is 48.90%.

Insider Activity at Sysco

In related news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the sale, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.58% of the company’s stock.

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.