2,783 Shares in Sysco Co. (NYSE:SYY) Acquired by VeraBank N.A.

VeraBank N.A. acquired a new stake in shares of Sysco Co. (NYSE:SYY) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,783 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors have also made changes to their positions in SYY. WESCAP Management Group Inc. purchased a new position in Sysco in the fourth quarter valued at about $931,000. Sapient Capital LLC bought a new position in Sysco during the 4th quarter valued at $787,000. U.S. Capital Wealth Advisors LLC increased its position in shares of Sysco by 67.7% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 63,962 shares of the company’s stock worth $4,678,000 after purchasing an additional 25,812 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Sysco by 22.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 10,726 shares of the company’s stock worth $785,000 after purchasing an additional 1,963 shares during the last quarter. Finally, Accretive Wealth Partners LLC raised its stake in Sysco by 1.0% during the fourth quarter. Accretive Wealth Partners LLC now owns 21,788 shares of the company’s stock valued at $1,593,000 after buying an additional 212 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the transaction, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at $1,926,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.58% of the company’s stock.

Sysco Price Performance

NYSE:SYY traded up $1.11 during trading hours on Friday, reaching $75.36. 2,709,679 shares of the company’s stock were exchanged, compared to its average volume of 2,778,819. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The business’s 50-day simple moving average is $78.65 and its two-hundred day simple moving average is $75.16. The company has a market capitalization of $37.53 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 1.92 and a beta of 1.16. The company has a quick ratio of 0.80, a current ratio of 1.34 and a debt-to-equity ratio of 5.77.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The company had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. Sysco’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 earnings per share. Sell-side analysts expect that Sysco Co. will post 4.31 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.71%. This is a positive change from Sysco’s previous quarterly dividend of $0.50. Sysco’s payout ratio is currently 48.78%.

Analysts Set New Price Targets

SYY has been the topic of several research reports. Truist Financial dropped their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday. UBS Group dropped their price objective on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday. Stephens lifted their target price on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Finally, Barclays boosted their price objective on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.56.

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.