3,580 Shares in Sysco Co. (NYSE:SYY) Acquired by FourThought Financial Partners LLC

FourThought Financial Partners LLC bought a new stake in Sysco Co. (NYSE:SYY) during the 4th quarter, Holdings Channel reports. The firm bought 3,580 shares of the company’s stock, valued at approximately $262,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SYY. Trian Fund Management L.P. purchased a new stake in shares of Sysco in the third quarter valued at approximately $80,812,000. Invesco Ltd. raised its holdings in Sysco by 11.0% during the third 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 last quarter. Acadian Asset Management LLC raised its holdings in Sysco by 1,591.5% during the third quarter. Acadian Asset Management LLC now owns 764,235 shares of the company’s stock worth $50,462,000 after purchasing an additional 719,054 shares during the last quarter. Becker Capital Management Inc. raised its holdings in Sysco by 3,671.0% during the third quarter. Becker Capital Management Inc. now owns 470,888 shares of the company’s stock worth $31,102,000 after purchasing an additional 458,401 shares during the last quarter. Finally, Vaughan David Investments LLC IL acquired a new position in Sysco during the fourth quarter worth $32,976,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Trading Down 0.4 %

SYY stock traded down $0.27 during trading on Monday, reaching $75.09. 953,005 shares of the stock traded hands, compared to its average volume of 2,946,515. The business’s 50 day moving average price is $78.65 and its 200-day moving average price is $75.31. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. The firm has a market capitalization of $37.39 billion, a PE ratio of 18.38, a P/E/G ratio of 1.92 and a beta of 1.16.

Sysco (NYSE:SYY) last posted its quarterly earnings results 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 firm had revenue of $19.38 billion during the quarter, compared to the consensus estimate 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. As a group, sell-side analysts forecast that Sysco Co. will post 4.31 earnings per share for the current year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be given a $0.51 dividend. This is an increase from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. This represents a $2.04 annualized dividend and a dividend yield of 2.72%. Sysco’s dividend payout ratio is presently 48.78%.

Insider Transactions at Sysco

In related news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SYY shares. Stephens lifted their price objective on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Truist Financial cut their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday. JPMorgan Chase & Co. boosted their price target on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Piper Sandler cut their price target on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Finally, BMO Capital Markets boosted their price target on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.56.

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.