Orion Portfolio Solutions LLC Acquires 6,868 Shares of Sysco Co. (NYSE:SYY)

Orion Portfolio Solutions LLC raised its holdings in Sysco Co. (NYSE:SYY) by 16.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,357 shares of the company’s stock after buying an additional 6,868 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Sysco were worth $3,774,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Boston Partners boosted its holdings in Sysco by 143.7% in the fourth quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after acquiring an additional 7,184,754 shares in the last quarter. Norges Bank purchased a new stake in shares of Sysco in the 4th quarter worth about $450,441,000. State Street Corp boosted its stake in shares of Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares in the last quarter. Mondrian Investment Partners LTD purchased a new position in shares of Sysco during the fourth quarter valued at about $123,928,000. Finally, Raymond James Financial Inc. bought a new position in Sysco in the fourth quarter worth about $97,078,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SYY shares. Morgan Stanley reduced their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. UBS Group lowered their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Truist Financial dropped their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.77.

Sysco Stock Up 0.1 %

Sysco stock opened at $74.10 on Monday. The firm has a market cap of $36.25 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.88 and a beta of 1.11. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.23. The stock has a fifty day simple moving average of $72.99 and a two-hundred day simple moving average of $75.12.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share 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 period last year, the business posted $0.89 earnings per share. Equities analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

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

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction on Thursday, January 2nd. The stock was 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 owns 56,304 shares of the company’s stock, 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 SEC, which is available at this link. Company insiders own 0.54% of the company’s stock.

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.