Bank of Hawaii Raises Stake in Sysco Co. (NYSE:SYY)

Bank of Hawaii lifted its position in shares of Sysco Co. (NYSE:SYY) by 6.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 11,612 shares of the company’s stock after buying an additional 676 shares during the period. Bank of Hawaii’s holdings in Sysco were worth $906,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SYY. LRI Investments LLC purchased a new stake in shares of Sysco in the first quarter valued at $45,000. Epoch Investment Partners Inc. lifted its holdings in shares of Sysco by 26.5% during the 1st quarter. Epoch Investment Partners Inc. now owns 4,968 shares of the company’s stock worth $403,000 after acquiring an additional 1,042 shares during the period. Caxton Associates LP boosted its position in shares of Sysco by 12.9% in the first quarter. Caxton Associates LP now owns 18,809 shares of the company’s stock worth $1,527,000 after acquiring an additional 2,143 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in Sysco in the first quarter valued at approximately $658,000. Finally, California State Teachers Retirement System increased its position in Sysco by 1.3% during the first quarter. California State Teachers Retirement System now owns 847,265 shares of the company’s stock worth $68,781,000 after purchasing an additional 11,244 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SYY shares. JPMorgan Chase & Co. increased their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Jefferies Financial Group boosted their target price on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Wells Fargo & Company cut their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, Barclays boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.77.

Insiders Place Their Bets

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. This represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Sysco Stock Performance

Shares of SYY stock opened at $75.79 on Monday. The stock has a market capitalization of $37.23 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.99 and a beta of 1.20. Sysco Co. has a one year low of $69.03 and a one year high of $82.89. The company’s 50-day simple moving average is $75.69 and its 200-day simple moving average is $74.74. 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 (NYSE:SYY) last released its earnings results on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The firm 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 company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 EPS. Equities analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.69%. Sysco’s payout ratio is 52.44%.

Sysco 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.