Sequoia Financial Advisors LLC Raises Position in Sysco Co. (NYSE:SYY)

Sequoia Financial Advisors LLC boosted its position in Sysco Co. (NYSE:SYY) by 4.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 21,166 shares of the company’s stock after purchasing an additional 899 shares during the period. Sequoia Financial Advisors LLC’s holdings in Sysco were worth $1,618,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Valley Wealth Managers Inc. purchased a new stake in Sysco in the 3rd quarter worth about $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Sysco in the fourth quarter valued at approximately $31,000. Sherman Asset Management Inc. purchased a new stake in shares of Sysco during the 4th quarter valued at approximately $31,000. SRS Capital Advisors Inc. boosted its holdings in Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after buying an additional 149 shares during the period. Finally, HHM Wealth Advisors LLC grew its stake in Sysco by 107.4% in the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock valued at $47,000 after buying an additional 321 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Price Performance

SYY opened at $73.35 on Friday. The stock has a market capitalization of $35.89 billion, a P/E ratio of 18.86, a PEG ratio of 1.88 and a beta of 1.11. 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 Co. has a 12-month low of $69.03 and a 12-month high of $82.33. The stock has a 50-day moving average price of $73.28 and a 200-day moving average price of $75.51.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS 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 quarter in the previous year, the company earned $0.89 EPS. Equities analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio is presently 52.44%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SYY shares. Truist Financial cut their price target on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Melius started coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. Jefferies Financial Group boosted their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Guggenheim reiterated a “buy” rating and issued a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $84.77.

Insider Buying and Selling at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.54% of the company’s stock.

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.