Envestnet Portfolio Solutions Inc. Boosts Stake in Sysco Co. (NYSE:SYY)

Envestnet Portfolio Solutions Inc. lifted its holdings in Sysco Co. (NYSE:SYY) by 13.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,013 shares of the company’s stock after buying an additional 9,269 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Sysco were worth $5,812,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stonebridge Financial Group LLC purchased a new position in shares of Sysco in the fourth quarter worth about $31,000. Sherman Asset Management Inc. purchased a new position in shares of Sysco in the fourth quarter worth about $31,000. SRS Capital Advisors Inc. lifted its stake in shares of Sysco by 53.0% in 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. HHM Wealth Advisors LLC lifted its stake in shares of 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 in the last quarter. Finally, Hager Investment Management Services LLC acquired a new stake in Sysco during the fourth quarter worth about $50,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction that occurred 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 transaction, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.54% of the company’s stock.

Sysco Trading Down 0.6 %

NYSE SYY opened at $74.25 on Wednesday. The firm has a 50 day simple moving average of $73.27 and a 200-day simple moving average of $75.46. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a one year low of $69.03 and a one year high of $82.33. The firm has a market cap of $36.33 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 1.88 and a beta of 1.11.

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

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Friday, April 4th. Sysco’s payout ratio is 52.44%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SYY shares. Guggenheim restated a “buy” rating and set a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. UBS Group cut their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Melius started coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, Truist Financial cut their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.