Larson Financial Group LLC Purchases 2,993 Shares of Sysco Co. (NYSE:SYY)

Larson Financial Group LLC raised its position in shares of Sysco Co. (NYSE:SYY) by 134.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,227 shares of the company’s stock after acquiring an additional 2,993 shares during the period. Larson Financial Group LLC’s holdings in Sysco were worth $400,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in Sysco by 3.8% in the 3rd quarter. Principal Financial Group Inc. now owns 608,135 shares of the company’s stock valued at $47,471,000 after buying an additional 22,513 shares during the last quarter. Leavell Investment Management Inc. grew its stake in shares of Sysco by 9.3% in the third quarter. Leavell Investment Management Inc. now owns 5,166 shares of the company’s stock worth $403,000 after acquiring an additional 438 shares during the last quarter. Assetmark Inc. increased its position in Sysco by 18.6% during the third quarter. Assetmark Inc. now owns 1,230 shares of the company’s stock worth $96,000 after acquiring an additional 193 shares during the period. Covestor Ltd raised its stake in Sysco by 26.7% during the 3rd quarter. Covestor Ltd now owns 1,432 shares of the company’s stock valued at $112,000 after purchasing an additional 302 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC boosted its holdings in Sysco by 4.1% in the 3rd quarter. Legacy Capital Wealth Partners LLC now owns 9,362 shares of the company’s stock valued at $731,000 after purchasing an additional 373 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Price Performance

NYSE:SYY opened at $76.96 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The firm has a market cap of $37.65 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33. The company’s 50-day moving average price is $73.48 and its two-hundred day moving average price is $75.60.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting 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 last year, the firm posted $0.89 EPS. On average, equities analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.65%. Sysco’s dividend payout ratio (DPR) is 52.44%.

Insiders Place Their Bets

In other news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

SYY has been the topic of several research reports. Barclays dropped their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Jefferies Financial Group boosted their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Guggenheim reiterated a “buy” rating and issued a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their price objective on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.77.

Sysco Company 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.