KKM Financial LLC Increases Position in Sysco Co. (NYSE:SYY)

KKM Financial LLC increased its stake in shares of Sysco Co. (NYSE:SYY) by 3.3% in the fourth quarter, HoldingsChannel reports. The firm owned 31,423 shares of the company’s stock after buying an additional 1,008 shares during the period. KKM Financial LLC’s holdings in Sysco were worth $2,403,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Parvin Asset Management LLC bought a new stake in shares of Sysco in the 4th quarter valued at about $29,000. Stonebridge Financial Group LLC acquired a new stake in Sysco in the fourth quarter valued at approximately $31,000. Flagship Wealth Advisors LLC purchased a new position in Sysco in the fourth quarter worth $31,000. Sherman Asset Management Inc. acquired a new position in shares of Sysco during the fourth quarter worth $31,000. Finally, SRS Capital Advisors Inc. lifted its holdings in shares of Sysco by 53.0% during the 4th 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 last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Down 1.2 %

Shares of SYY opened at $70.77 on Friday. The company has a market capitalization of $34.31 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 1.88 and a beta of 0.80. Sysco Co. has a 52 week low of $67.12 and a 52 week high of $82.23. The stock’s 50-day moving average price is $72.16 and its 200-day moving average price is $74.13. 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 (NYSE:SYY) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). Sysco had a return on equity of 106.30% and a net margin of 2.40%. The firm had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. During the same period in the previous year, the business earned $0.96 EPS. Sysco’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, sell-side analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a $0.54 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.05%. This is an increase from Sysco’s previous quarterly dividend of $0.51. Sysco’s dividend payout ratio is 55.96%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Wells Fargo & Company reduced their target price on Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. BMO Capital Markets decreased their price objective on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. UBS Group dropped their target price on shares of Sysco from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Barclays decreased their price target on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Finally, Truist Financial dropped their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.38.

Insider Transactions at Sysco

In related news, Director Sheila Talton sold 356 shares of Sysco stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the sale, the director now owns 12,738 shares of the company’s stock, valued at approximately $902,359.92. This trade represents a 2.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company’s stock.

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.