WBI Investments LLC Purchases 920 Shares of Sysco Co. (NYSE:SYY)

WBI Investments LLC lifted its position in Sysco Co. (NYSE:SYY) by 13.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,703 shares of the company’s stock after purchasing an additional 920 shares during the quarter. WBI Investments LLC’s holdings in Sysco were worth $589,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SYY. MV Capital Management Inc. raised its position in shares of Sysco by 0.4% in the 4th quarter. MV Capital Management Inc. now owns 34,330 shares of the company’s stock valued at $2,625,000 after buying an additional 144 shares in the last quarter. Morton Community Bank raised its position in shares of Sysco by 0.4% in the 4th quarter. Morton Community Bank now owns 40,585 shares of the company’s stock valued at $3,103,000 after buying an additional 145 shares in the last quarter. Nemes Rush Group LLC raised its position in shares of Sysco by 5.9% in the 4th quarter. Nemes Rush Group LLC now owns 2,631 shares of the company’s stock valued at $201,000 after buying an additional 147 shares in the last quarter. SRS Capital Advisors Inc. raised its position in shares of Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after buying an additional 149 shares in the last quarter. Finally, FineMark National Bank & Trust raised its position in shares of Sysco by 1.8% in the 4th quarter. FineMark National Bank & Trust now owns 8,580 shares of the company’s stock valued at $656,000 after buying an additional 149 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.7%

SYY opened at $72.95 on Tuesday. Sysco Co. has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The firm has a market capitalization of $35.36 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.88 and a beta of 0.80. The company’s 50 day moving average price is $71.76 and its two-hundred day moving average price is $74.02.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share 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 business had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same period in the previous year, the firm earned $0.96 earnings per share. The company’s revenue was up 1.1% compared to the same quarter last year. As a group, research analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently announced 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. This represents a $2.16 dividend on an annualized basis and a yield of 2.96%. This is a positive change from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco’s payout ratio is presently 55.96%.

Insiders Place Their Bets

In other news, Director Sheila Talton sold 356 shares of the company’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 directly owns 12,738 shares of the company’s stock, valued at approximately $902,359.92. This represents a 2.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on SYY shares. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. BMO Capital Markets dropped their target price 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. Truist Financial dropped 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. Barclays lowered their price objective on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company lowered their price objective on shares of Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Three equities research 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.38.

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.