Tucker Asset Management LLC Has $537,000 Stake in Sysco Co. (NYSE:SYY)

Tucker Asset Management LLC trimmed its position in shares of Sysco Co. (NYSE:SYY) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,342 shares of the company’s stock after selling 520 shares during the period. Tucker Asset Management LLC’s holdings in Sysco were worth $537,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SYY. Capital World Investors acquired a new position in Sysco during the fourth quarter worth $683,599,000. Norges Bank acquired a new position in Sysco during the fourth quarter worth $450,794,000. Capital Research Global Investors acquired a new position in Sysco during the fourth quarter worth $227,241,000. The Manufacturers Life Insurance Company increased its holdings in Sysco by 132.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock worth $267,177,000 after buying an additional 2,084,501 shares during the last quarter. Finally, Fiduciary Management Inc. WI increased its holdings in shares of Sysco by 92.1% in the fourth quarter. Fiduciary Management Inc. WI now owns 2,619,940 shares of the company’s stock valued at $191,596,000 after purchasing an additional 1,255,908 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on SYY shares. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Tuesday, May 28th. BMO Capital Markets decreased their price objective on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. UBS Group decreased their price objective on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Piper Sandler decreased their price objective on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.10.

Sysco Price Performance

SYY traded down $0.35 on Friday, hitting $70.69. 2,201,537 shares of the stock were exchanged, compared to its average volume of 3,069,767. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The business has a 50-day moving average of $74.59 and a two-hundred day moving average of $76.42. 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 $35.20 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.04 and a beta of 1.17.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. The business had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. Sysco’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 earnings per share. Sell-side analysts forecast that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, July 5th. This is a boost from Sysco’s previous quarterly dividend of $0.50. Sysco’s payout ratio is presently 49.76%.

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.