Sysco Co. (NYSE:SYY) Shares Acquired by LPL Financial LLC

LPL Financial LLC boosted its stake in Sysco Co. (NYSE:SYY) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 501,726 shares of the company’s stock after purchasing an additional 9,012 shares during the period. LPL Financial LLC owned approximately 0.10% of Sysco worth $38,362,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SYY. Townsquare Capital LLC boosted its holdings in Sysco by 10.0% in the 3rd quarter. Townsquare Capital LLC now owns 18,758 shares of the company’s stock worth $1,464,000 after acquiring an additional 1,706 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Sysco by 17.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,918,365 shares of the company’s stock worth $305,868,000 after purchasing an additional 569,058 shares in the last quarter. Financial Counselors Inc. boosted its stake in shares of Sysco by 5.0% in the third quarter. Financial Counselors Inc. now owns 10,794 shares of the company’s stock valued at $843,000 after purchasing an additional 516 shares during the period. Vinva Investment Management Ltd grew its holdings in Sysco by 13.7% during the 3rd quarter. Vinva Investment Management Ltd now owns 23,133 shares of the company’s stock valued at $1,797,000 after purchasing an additional 2,782 shares in the last quarter. Finally, Isthmus Partners LLC increased its stake in Sysco by 2.4% during the 3rd quarter. Isthmus Partners LLC now owns 151,405 shares of the company’s stock worth $11,819,000 after buying an additional 3,615 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Buying and Selling

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction dated 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 approximately $4,335,408. This represents a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Guggenheim restated a “buy” rating and set a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Jefferies Financial Group raised their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Truist Financial cut their target price on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on shares of Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, Melius started coverage on shares of Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.77.

Sysco Price Performance

SYY opened at $74.10 on Friday. 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 company’s 50-day moving average price is $72.99 and its 200 day moving average price is $75.15. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.23. The firm has a market cap of $36.25 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last announced its quarterly 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 quarter in the previous year, the business posted $0.89 EPS. As a group, sell-side analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

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