Agate Pass Investment Management LLC Acquires 1,638 Shares of Sysco Co. (NYSE:SYY)

Agate Pass Investment Management LLC grew its holdings in shares of Sysco Co. (NYSE:SYY) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,949 shares of the company’s stock after buying an additional 1,638 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Sysco were worth $1,296,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Armstrong Advisory Group Inc. raised its stake in shares of Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Sysco during the third quarter worth $26,000. Valley Wealth Managers Inc. purchased a new stake in Sysco in the 3rd quarter valued at $31,000. Focused Wealth Management Inc purchased a new position in Sysco during the 3rd quarter worth $37,000. Finally, Fairscale Capital LLC purchased a new stake in shares of Sysco in the second quarter valued at about $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SYY. JPMorgan Chase & Co. boosted their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Jefferies Financial Group upped 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. Wells Fargo & Company lowered their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.93.

Insiders Place Their Bets

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 directly owns 12,955 shares in the company, valued at $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 83,306 shares of company stock valued at $6,485,050 over the last quarter. 0.54% of the stock is owned by corporate insiders.

Sysco Price Performance

SYY traded down $0.03 on Monday, reaching $73.56. The company had a trading volume of 801,587 shares, compared to its average volume of 1,734,854. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.89. The company has a market cap of $36.13 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 2.10 and a beta of 1.18. The business has a 50 day simple moving average of $77.02 and a 200 day simple moving average of $75.75.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.07 earnings per share. As a group, sell-side analysts anticipate that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.77%. 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.