Paragon Private Wealth Management LLC Acquires 747 Shares of Sysco Co. (NYSE:SYY)

Paragon Private Wealth Management LLC raised its holdings in Sysco Co. (NYSE:SYY) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,563 shares of the company’s stock after buying an additional 747 shares during the quarter. Paragon Private Wealth Management LLC’s holdings in Sysco were worth $961,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of Sysco by 3.8% during the third quarter. Principal Financial Group Inc. now owns 608,135 shares of the company’s stock valued at $47,471,000 after purchasing an additional 22,513 shares in the last quarter. Leavell Investment Management Inc. boosted its position in shares of Sysco by 9.3% during the third quarter. Leavell Investment Management Inc. now owns 5,166 shares of the company’s stock valued at $403,000 after purchasing an additional 438 shares in the last quarter. Assetmark Inc. boosted its position in shares of Sysco by 18.6% during the third quarter. Assetmark Inc. now owns 1,230 shares of the company’s stock valued at $96,000 after purchasing an additional 193 shares in the last quarter. Kerusso Capital Management LLC boosted its position in shares of Sysco by 6.5% during the third quarter. Kerusso Capital Management LLC now owns 18,199 shares of the company’s stock valued at $1,421,000 after purchasing an additional 1,104 shares in the last quarter. Finally, Carr Financial Group Corp bought a new stake in shares of Sysco during the third quarter valued at approximately $219,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Up 1.9 %

SYY stock opened at $76.53 on Monday. The stock has a market capitalization of $37.44 billion, a P/E ratio of 19.67, a P/E/G ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33. The business has a fifty day moving average price of $73.47 and a 200-day moving average price of $75.60.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Equities analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Wall Street Analyst Weigh In

SYY has been the topic of several research reports. JPMorgan Chase & Co. dropped their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Melius began coverage on Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price on the stock. Guggenheim reissued a “buy” rating and issued a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. Truist Financial dropped their target price on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Insider Activity at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% 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.