Boston Research & Management Inc. Purchases 2,949 Shares of Sysco Co. (NYSE:SYY)

Boston Research & Management Inc. grew its position in Sysco Co. (NYSE:SYY) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,529 shares of the company’s stock after acquiring an additional 2,949 shares during the period. Boston Research & Management Inc.’s holdings in Sysco were worth $5,086,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Stonebridge Financial Group LLC acquired a new position in Sysco during the fourth quarter worth approximately $31,000. Sherman Asset Management Inc. bought a new stake in Sysco in the 4th quarter valued at $31,000. Flagship Wealth Advisors LLC acquired a new stake in Sysco during the 4th quarter valued at $31,000. SRS Capital Advisors Inc. boosted its position in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after purchasing an additional 149 shares during the period. Finally, HHM Wealth Advisors LLC increased its holdings 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 last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

Sysco stock opened at $74.10 on Monday. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.23. The stock has a market capitalization of $36.25 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The stock has a fifty day moving average of $72.99 and a 200-day moving average of $75.12.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate 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 prior year, the business earned $0.89 earnings per share. On average, sell-side analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

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 issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is 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. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on SYY shares. UBS Group reduced their target price on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Barclays dropped their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Truist Financial lowered their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Four 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, the stock currently has a consensus rating of “Moderate Buy” and an average 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.