Bessemer Group Inc. Acquires 2,839 Shares of Sysco Co. (NYSE:SYY)

Bessemer Group Inc. grew its holdings in Sysco Co. (NYSE:SYY) by 44.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,196 shares of the company’s stock after acquiring an additional 2,839 shares during the quarter. Bessemer Group Inc.’s holdings in Sysco were worth $703,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Boston Partners raised its holdings in Sysco by 143.7% during the 4th quarter. Boston Partners now owns 12,184,114 shares of the company’s stock worth $930,296,000 after buying an additional 7,184,754 shares during the period. Norges Bank acquired a new stake in shares of Sysco during the fourth quarter worth $450,441,000. Mondrian Investment Partners LTD bought a new stake in Sysco in the 4th quarter valued at $123,928,000. Raymond James Financial Inc. acquired a new position in Sysco in the 4th quarter worth $97,078,000. Finally, Nordea Investment Management AB increased its holdings in Sysco by 52.3% during the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock worth $208,666,000 after purchasing an additional 933,327 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SYY. Barclays cut their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Guggenheim reaffirmed a “buy” rating and set a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. 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 report on Wednesday, January 29th. Finally, Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Trading Up 2.0 %

Sysco stock opened at $71.85 on Tuesday. The stock has a 50-day simple moving average of $72.62 and a 200 day simple moving average of $74.70. The stock has a market capitalization of $35.15 billion, a P/E ratio of 18.47, a PEG ratio of 1.88 and a beta of 0.91. 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 $67.12 and a 52 week high of $82.23.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS 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 quarter in the previous year, the business earned $0.89 earnings per share. Analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s payout ratio is 52.44%.

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.