Sysco Co. (NYSE:SYY) Stake Boosted by Hyman Charles D

Hyman Charles D grew its holdings in Sysco Co. (NYSE:SYY) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,541 shares of the company’s stock after purchasing an additional 625 shares during the period. Hyman Charles D’s holdings in Sysco were worth $1,210,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SYY. AdvisorNet Financial Inc lifted its stake in shares of Sysco by 74.0% in the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Sysco during the fourth quarter worth about $34,000. BluePath Capital Management LLC acquired a new stake in Sysco in the 3rd quarter valued at approximately $38,000. BKM Wealth Management LLC bought a new stake in Sysco in the 4th quarter valued at approximately $42,000. Finally, Milestone Investment Advisors LLC acquired a new position in Sysco during the 3rd quarter worth approximately $40,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sysco news, CAO Neil Russell sold 1,722 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were 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 in the company, valued at $1,926,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SYY. Stephens boosted their price objective on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. Truist Financial reduced their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Barclays boosted their price target on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Finally, BMO Capital Markets increased their price objective on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.56.

Sysco Price Performance

Sysco stock traded up $0.36 during mid-day trading on Tuesday, hitting $75.84. 3,333,289 shares of the company traded hands, compared to its average volume of 2,970,474. The stock has a fifty day moving average price of $78.44 and a 200-day moving average price of $75.45. The stock has a market cap of $37.77 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 1.92 and a beta of 1.16. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34.

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 the consensus estimate of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The company had revenue of $19.38 billion during the quarter, compared to analyst estimates of $19.74 billion. During the same period in the previous year, the business earned $0.90 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts predict that Sysco Co. will post 4.31 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.69%. This is a boost from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio (DPR) is currently 48.78%.

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.