FourThought Financial Partners LLC Makes New Investment in Sysco Co. (NYSE:SYY)

FourThought Financial Partners LLC purchased a new position in Sysco Co. (NYSE:SYY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,580 shares of the company’s stock, valued at approximately $262,000.

Other large investors have also bought and sold shares of the company. Wealthfront Advisers LLC increased its stake in shares of Sysco by 263.4% in the third quarter. Wealthfront Advisers LLC now owns 34,007 shares of the company’s stock worth $2,246,000 after purchasing an additional 24,650 shares in the last quarter. Professional Advisory Services Inc. bought a new stake in Sysco during the 4th quarter valued at $20,057,000. Harbour Trust & Investment Management Co bought a new stake in Sysco during the 4th quarter valued at $4,623,000. Pacer Advisors Inc. raised its holdings in Sysco by 40.1% during the 4th quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock valued at $6,014,000 after buying an additional 23,558 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Sysco by 16.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock valued at $21,865,000 after buying an additional 41,618 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the business’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 sale, the chief accounting officer now directly owns 24,082 shares in the company, valued at $1,926,560. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Stephens increased their price objective on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Piper Sandler cut their price objective on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Truist Financial cut their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.56.

Sysco Trading Down 0.4 %

Shares of SYY stock traded down $0.27 on Monday, hitting $75.09. The stock had a trading volume of 953,005 shares, compared to its average volume of 2,946,515. The company’s 50 day moving average price is $78.65 and its 200-day moving average price is $75.31. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. The firm has a market capitalization of $37.39 billion, a P/E ratio of 18.38, a P/E/G ratio of 1.92 and a beta of 1.16.

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

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a dividend of $0.51 per share. This is a positive change from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. This represents a $2.04 annualized dividend and a yield of 2.72%. Sysco’s payout ratio is 48.78%.

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.