Sysco Co. (NYSE:SYY) Shares Bought by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC grew its position in Sysco Co. (NYSE:SYY) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,175 shares of the company’s stock after acquiring an additional 242 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Sysco were worth $472,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new position in Sysco during the third quarter worth about $26,000. Stonebridge Financial Group LLC acquired a new position in shares of Sysco during the fourth quarter worth about $31,000. Valley Wealth Managers Inc. acquired a new position in shares of Sysco during the third quarter worth $31,000. Focused Wealth Management Inc purchased a new position in Sysco in the third quarter valued at approximately $37,000. Finally, HHM Wealth Advisors LLC grew its holdings in shares of Sysco by 107.4% during the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after purchasing an additional 321 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,370 shares of company stock valued at $5,965,519 over the last quarter. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Melius started coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Wells Fargo & Company boosted their price target on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays reduced their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Melius Research raised Sysco to a “hold” rating in a report on Wednesday, December 18th. Finally, Truist Financial cut their price target on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven 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 a consensus price target of $84.77.

Sysco Trading Up 0.6 %

Shares of SYY stock opened at $74.68 on Friday. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33. The company has a market capitalization of $36.54 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 1.88 and a beta of 1.17. The firm has a 50-day moving average price of $73.69 and a 200 day moving average price of $75.64. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting 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 period last year, the firm earned $0.89 earnings per share. Research analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders 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 2.73%. Sysco’s dividend payout ratio (DPR) is 52.44%.

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.