Calamos Advisors LLC Purchases 27,727 Shares of Sysco Co. (NYSE:SYY)

Calamos Advisors LLC raised its position in Sysco Co. (NYSE:SYY) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 296,538 shares of the company’s stock after purchasing an additional 27,727 shares during the period. Calamos Advisors LLC owned approximately 0.06% of Sysco worth $21,686,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Cambridge Trust Co. increased its position in shares of Sysco by 5.2% during the fourth quarter. Cambridge Trust Co. now owns 7,842 shares of the company’s stock worth $573,000 after acquiring an additional 386 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Sysco by 8.3% during the fourth quarter. Federated Hermes Inc. now owns 52,383 shares of the company’s stock worth $3,831,000 after purchasing an additional 4,035 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Sysco by 6.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 45,783 shares of the company’s stock worth $3,348,000 after purchasing an additional 2,786 shares during the last quarter. Tyche Wealth Partners LLC acquired a new position in Sysco during the fourth quarter worth $361,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Sysco by 16.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock worth $21,865,000 after purchasing an additional 41,618 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the subject of several recent research reports. Barclays increased their target price on shares of Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Stephens increased their price target on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. BMO Capital Markets raised their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Finally, JPMorgan Chase & Co. boosted their price target on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.38.

Insider Transactions at Sysco

In other news, CAO Neil Russell sold 1,722 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the transaction, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at $1,926,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.58% of the company’s stock.

Sysco Price Performance

SYY traded up $0.46 on Friday, hitting $76.10. 270,913 shares of the stock were exchanged, compared to its average volume of 2,900,056. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The business has a 50-day moving average of $79.44 and a two-hundred day moving average of $74.24. 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 firm has a market capitalization of $37.88 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 1.54 and a beta of 1.15.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share 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 business had revenue of $19.29 billion during the quarter, compared to analysts’ expectations of $19.32 billion. During the same quarter in the prior year, the business posted $0.80 earnings per share. Sysco’s revenue was up 3.7% compared to the same quarter last year. Sell-side analysts forecast that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.63%. Sysco’s dividend payout ratio (DPR) is currently 48.90%.

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.