EverSource Wealth Advisors LLC Boosts Stock Holdings in Sysco Co. (NYSE:SYY)

EverSource Wealth Advisors LLC grew its position in shares of Sysco Co. (NYSE:SYY) by 12.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,838 shares of the company’s stock after acquiring an additional 324 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Sysco were worth $217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. New England Asset Management Inc. boosted its holdings in shares of Sysco by 12.7% in the 3rd quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock worth $10,254,000 after buying an additional 14,810 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Sysco by 29.0% in the 3rd quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock worth $6,115,000 after buying an additional 17,587 shares during the last quarter. WR Wealth Planners LLC boosted its holdings in shares of Sysco by 9.9% in the 4th quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock worth $326,000 after buying an additional 386 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Sysco by 7.7% in the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after buying an additional 8,891 shares during the last quarter. Finally, Clark & Stuart Inc purchased a new position in shares of Sysco in the 4th quarter worth about $7,613,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the firm’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 value of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.54% of the stock is currently owned by insiders.

Sysco Trading Up 1.0 %

Shares of SYY opened at $73.35 on Monday. The business’s 50-day moving average price is $73.28 and its 200-day moving average price is $75.51. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33. The stock has a market cap of $35.89 billion, a PE ratio of 18.86, a P/E/G ratio of 1.88 and a beta of 1.11. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last announced 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 in the prior year, the company earned $0.89 EPS. On average, equities analysts forecast 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 paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio is currently 52.44%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SYY. Truist Financial cut their price target 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. Melius started coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. UBS Group lowered their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research note 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 note on Wednesday, February 26th. Finally, Guggenheim restated a “buy” rating and issued a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.