NorthRock Partners LLC Has $532,000 Holdings in Sysco Co. (NYSE:SYY)

NorthRock Partners LLC boosted its position in Sysco Co. (NYSE:SYY) by 147.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,954 shares of the company’s stock after buying an additional 4,146 shares during the quarter. NorthRock Partners LLC’s holdings in Sysco were worth $532,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYY. Buckley Wealth Management LLC lifted its holdings in shares of Sysco by 0.8% during the 4th quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock worth $1,391,000 after acquiring an additional 150 shares during the period. WR Wealth Planners LLC grew its holdings in Sysco by 9.9% during the fourth quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock valued at $326,000 after purchasing an additional 386 shares during the period. Boston Trust Walden Corp lifted its stake in Sysco by 179.5% in the fourth quarter. Boston Trust Walden Corp now owns 804,345 shares of the company’s stock valued at $61,500,000 after buying an additional 516,585 shares in the last quarter. Lmcg Investments LLC bought a new position in Sysco in the fourth quarter valued at approximately $3,668,000. Finally, Nisa Investment Advisors LLC lifted its stake in Sysco by 18.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 218,813 shares of the company’s stock valued at $16,730,000 after buying an additional 34,829 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of Sysco stock opened at $72.34 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm has a market capitalization of $35.07 billion, a P/E ratio of 18.60, a P/E/G ratio of 1.88 and a beta of 0.80. The business has a fifty day simple moving average of $71.78 and a two-hundred day simple moving average of $74.04. Sysco Co. has a 12 month low of $67.12 and a 12 month high of $82.23.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a return on equity of 106.30% and a net margin of 2.40%. The business had revenue of $19.60 billion during the quarter, compared to the consensus estimate of $20.11 billion. During the same quarter in the previous year, the business posted $0.96 earnings per share. Sysco’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 annualized dividend and a yield of 2.99%. This is an increase from Sysco’s previous quarterly dividend of $0.51. Sysco’s payout ratio is currently 55.96%.

Insider Transactions at Sysco

In related news, Director Sheila Talton sold 356 shares of the business’s 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 in the company, valued at approximately $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SYY. 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 research report on Wednesday, January 29th. UBS Group dropped their price objective 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. Morgan Stanley lowered their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Barclays lowered their price target on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. Finally, Sanford C. Bernstein set a $87.00 target price on shares of Sysco and gave the company an “overweight” rating in a report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.38.

Sysco 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.