Commonwealth Equity Services LLC Purchases 35,943 Shares of Sysco Co. (NYSE:SYY)

Commonwealth Equity Services LLC lifted its position in Sysco Co. (NYSE:SYY) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 359,469 shares of the company’s stock after purchasing an additional 35,943 shares during the period. Commonwealth Equity Services LLC owned about 0.07% of Sysco worth $26,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of SYY. Hunter Associates Investment Management LLC raised its holdings in Sysco by 1.5% during the fourth quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock valued at $606,000 after acquiring an additional 125 shares during the period. Hazlett Burt & Watson Inc. boosted its stake in Sysco by 6.4% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock worth $165,000 after purchasing an additional 135 shares during the period. Quent Capital LLC grew its holdings in Sysco by 5.0% during the 4th quarter. Quent Capital LLC now owns 2,948 shares of the company’s stock valued at $216,000 after buying an additional 140 shares in the last quarter. GHE LLC raised its position in shares of Sysco by 1.0% during the fourth quarter. GHE LLC now owns 14,718 shares of the company’s stock valued at $1,076,000 after buying an additional 146 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of Sysco by 0.5% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 30,360 shares of the company’s stock worth $2,457,000 after buying an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

SYY has been the subject of several research analyst reports. BMO Capital Markets raised their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Truist Financial decreased their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday. UBS Group cut their price target on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Finally, Barclays raised their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.56.

Sysco Stock Performance

NYSE:SYY opened at $75.36 on Monday. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34. The stock’s fifty day moving average is $78.65 and its 200 day moving average is $75.31. The firm has a market capitalization of $37.53 billion, a PE ratio of 18.38, a PEG ratio of 1.92 and a beta of 1.16. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. The business had revenue of $19.38 billion for the quarter, compared to the consensus estimate of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. On average, sell-side analysts anticipate that Sysco Co. will post 4.31 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.51 per share. This is a boost from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.71%. Sysco’s dividend payout ratio is currently 48.78%.

Insider Transactions at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.58% of the company’s stock.

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.