West Tower Group LLC Grows Stock Holdings in Sysco Co. (NYSE:SYY)

West Tower Group LLC grew its holdings in shares of Sysco Co. (NYSE:SYY) by 71.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,000 shares of the company’s stock after buying an additional 2,500 shares during the quarter. Sysco accounts for 1.0% of West Tower Group LLC’s portfolio, making the stock its 25th largest position. West Tower Group LLC’s holdings in Sysco were worth $459,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new stake in Sysco during the fourth quarter worth approximately $31,000. Sherman Asset Management Inc. purchased a new position in shares of Sysco in the fourth quarter valued at $31,000. Flagship Wealth Advisors LLC purchased a new position in shares of Sysco in the fourth quarter valued at $31,000. SRS Capital Advisors Inc. boosted its stake in shares of Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after purchasing an additional 149 shares during the period. Finally, HHM Wealth Advisors LLC boosted its stake in shares of Sysco by 107.4% in the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock valued at $47,000 after purchasing an additional 321 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is owned by corporate insiders.

Sysco Stock Down 0.6 %

SYY stock opened at $74.25 on Wednesday. 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 Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. The firm’s 50-day simple moving average is $73.27 and its 200 day simple moving average is $75.46. The stock has a market cap of $36.33 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last released its quarterly earnings data 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 net margin of 2.40% and a return on equity of 106.30%. During the same period in the previous year, the firm posted $0.89 EPS. As a group, sell-side analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid 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 yield of 2.75%. Sysco’s payout ratio is 52.44%.

Analyst Ratings Changes

Several brokerages have recently weighed in on SYY. Melius Research upgraded shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Guggenheim restated a “buy” rating and issued a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Truist Financial decreased their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. UBS Group reduced their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $84.77.

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.