WESCAP Management Group Inc. Invests $931,000 in Sysco Co. (NYSE:SYY)

WESCAP Management Group Inc. bought a new stake in shares of Sysco Co. (NYSE:SYY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,724 shares of the company’s stock, valued at approximately $931,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Invesco Ltd. raised its stake in shares of Sysco by 11.0% during the third quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock valued at $717,283,000 after acquiring an additional 1,076,287 shares during the last quarter. Northern Trust Corp lifted its holdings in Sysco by 3.0% in the 3rd quarter. Northern Trust Corp now owns 6,138,310 shares of the company’s stock worth $405,435,000 after buying an additional 178,464 shares during the period. Bank of New York Mellon Corp grew its position in shares of Sysco by 4.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,651,746 shares of the company’s stock worth $373,298,000 after buying an additional 265,621 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Sysco by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,738,940 shares of the company’s stock valued at $180,907,000 after buying an additional 21,700 shares during the period. Finally, Clarkston Capital Partners LLC raised its holdings in shares of Sysco by 0.4% during the third quarter. Clarkston Capital Partners LLC now owns 2,320,060 shares of the company’s stock valued at $153,240,000 after acquiring an additional 9,385 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Up 1.5 %

Shares of SYY stock traded up $1.11 during trading hours on Friday, hitting $75.36. 2,709,679 shares of the company’s stock traded hands, compared to its average volume of 2,778,819. The company has a quick ratio of 0.80, a current ratio of 1.34 and a debt-to-equity ratio of 5.77. The stock has a market cap of $37.53 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.92 and a beta of 1.16. The stock’s fifty day simple moving average is $78.65 and its two-hundred day simple moving average is $75.16. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The business had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter in the previous year, the business earned $0.90 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts expect that Sysco Co. will post 4.31 EPS for the current year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.71%. This is an increase from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio is 48.78%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SYY. Piper Sandler cut their price target on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday. Stephens boosted their price target 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. JPMorgan Chase & Co. increased their price target on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Finally, Barclays increased their target price on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.56.

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the sale, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.58% of the stock is owned by company insiders.

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.