Sysco Co. (NYSE:SYY) Shares Purchased by Summitry LLC

Summitry LLC raised its position in shares of Sysco Co. (NYSE:SYY) by 7.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 72,395 shares of the company’s stock after buying an additional 5,053 shares during the period. Summitry LLC’s holdings in Sysco were worth $5,535,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stonebridge Financial Group LLC acquired a new position in Sysco during the fourth quarter worth about $31,000. Sherman Asset Management Inc. bought a new stake in shares of Sysco in the 4th quarter worth approximately $31,000. Flagship Wealth Advisors LLC acquired a new stake in Sysco during the fourth quarter valued at approximately $31,000. SRS Capital Advisors Inc. boosted its holdings in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after buying an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its position in Sysco by 107.4% in the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after buying an additional 321 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

SYY has been the subject of several research reports. Wells Fargo & Company raised their price objective on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Morgan Stanley dropped their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Jefferies Financial Group lifted their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Truist Financial decreased their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Insider Transactions 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 shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, 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 SEC, which is accessible through this link. 0.54% of the stock is currently owned by company insiders.

Sysco Trading Down 1.5 %

Sysco stock opened at $70.38 on Wednesday. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33. 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 stock has a market cap of $34.43 billion, a P/E ratio of 18.09, a P/E/G ratio of 1.88 and a beta of 1.11. The company’s fifty day simple moving average is $72.98 and its 200-day simple moving average is $75.21.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the company posted $0.89 EPS. As a group, sell-side analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is presently 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.