Lindbrook Capital LLC Buys 942 Shares of Sysco Co. (NYSE:SYY)

Lindbrook Capital LLC boosted its stake in Sysco Co. (NYSE:SYY) by 115.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,760 shares of the company’s stock after purchasing an additional 942 shares during the period. Lindbrook Capital LLC’s holdings in Sysco were worth $129,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Invesco Ltd. grew its position in Sysco by 11.0% in the 3rd quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock worth $717,283,000 after purchasing an additional 1,076,287 shares during the period. Northern Trust Corp grew its position in shares of Sysco by 3.0% during the 3rd quarter. Northern Trust Corp now owns 6,138,310 shares of the company’s stock valued at $405,435,000 after acquiring an additional 178,464 shares during the period. Bank of New York Mellon Corp grew its position in shares of Sysco by 4.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,651,746 shares of the company’s stock valued at $373,298,000 after acquiring an additional 265,621 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Sysco by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,738,940 shares of the company’s stock valued at $180,907,000 after acquiring an additional 21,700 shares during the period. Finally, Clarkston Capital Partners LLC grew its position in shares of Sysco by 0.4% during the 3rd 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 during the period. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Down 0.5 %

Shares of SYY stock opened at $76.94 on Wednesday. The stock has a market cap of $38.30 billion, a P/E ratio of 18.81, a PEG ratio of 1.58 and a beta of 1.15. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. The company’s fifty day simple moving average is $79.29 and its two-hundred day simple moving average is $74.65.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.32 billion. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.80 EPS. Analysts predict that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.60%. The ex-dividend date is Thursday, April 4th. Sysco’s payout ratio is currently 48.90%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SYY. Barclays boosted their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. lifted their target price on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Stephens lifted their target price 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. Finally, 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 research note on Wednesday, January 31st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $85.38.

Insiders Place Their Bets

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

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.