SVB Wealth LLC Invests $968,000 in Sysco Co. (NYSE:SYY)

SVB Wealth LLC bought a new position in shares of Sysco Co. (NYSE:SYY) in the 4th quarter, Holdings Channel reports. The fund bought 12,662 shares of the company’s stock, valued at approximately $968,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Flputnam Investment Management Co. grew its position in shares of Sysco by 117.4% in the fourth quarter. Flputnam Investment Management Co. now owns 38,407 shares of the company’s stock valued at $2,937,000 after purchasing an additional 20,738 shares during the last quarter. Dynasty Wealth Management LLC grew its stake in shares of Sysco by 142.7% in the fourth quarter. Dynasty Wealth Management LLC now owns 26,623 shares of the company’s stock valued at $2,036,000 after acquiring an additional 15,652 shares in the last quarter. VELA Investment Management LLC increased its position in Sysco by 4.2% during the fourth quarter. VELA Investment Management LLC now owns 60,670 shares of the company’s stock worth $4,639,000 after acquiring an additional 2,452 shares during the period. Heritage Oak Wealth Advisors LLC acquired a new stake in Sysco in the 4th quarter worth about $282,000. Finally, Proficio Capital Partners LLC bought a new stake in Sysco in the 4th quarter valued at about $8,813,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Up 0.1 %

SYY stock opened at $75.61 on Tuesday. The stock has a market capitalization of $36.99 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm has a 50-day moving average price of $73.63 and a 200-day moving average price of $75.64. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates 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 company earned $0.89 EPS. As a group, equities research analysts anticipate that Sysco Co. will post 4.58 EPS 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. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.70%. Sysco’s dividend payout ratio is currently 52.44%.

Insiders Place Their Bets

In other news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the transaction, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,370 shares of company stock valued at $5,965,519 in the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

SYY has been the topic of several recent research reports. Truist Financial lowered their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Barclays dropped their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company increased their target price on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Melius initiated coverage on Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. Finally, Guggenheim reaffirmed a “buy” rating and set a $85.00 price objective on shares of Sysco in a research report 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. According to data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average price target of $84.77.

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.