Sequoia Financial Advisors LLC Acquires 899 Shares of Sysco Co. (NYSE:SYY)

Sequoia Financial Advisors LLC grew its holdings in shares of Sysco Co. (NYSE:SYY) by 4.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 21,166 shares of the company’s stock after acquiring 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 SEC filing.

A number of other hedge funds also recently modified their holdings of SYY. Fortem Financial Group LLC lifted its holdings in Sysco by 3.6% during the 4th quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock worth $296,000 after buying an additional 136 shares during the period. Morton Community Bank boosted its holdings in Sysco by 0.4% in the fourth quarter. Morton Community Bank now owns 40,585 shares of the company’s stock valued at $3,103,000 after acquiring an additional 145 shares during the last quarter. SRS Capital Advisors Inc. increased its position in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after purchasing an additional 149 shares during the period. S.A. Mason LLC raised its holdings in Sysco by 10.7% during the 4th quarter. S.A. Mason LLC now owns 1,546 shares of the company’s stock worth $118,000 after purchasing an additional 150 shares during the last quarter. Finally, HM Payson & Co. boosted its stake in shares of Sysco by 0.8% in the 4th quarter. HM Payson & Co. now owns 19,160 shares of the company’s stock valued at $1,465,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on SYY shares. Truist Financial dropped their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Melius assumed coverage on Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price on the stock. Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Wells Fargo & Company lifted their price objective on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Stock Performance

Shares of SYY opened at $73.35 on Friday. The firm has a market capitalization of $35.89 billion, a P/E ratio of 18.86, a P/E/G ratio of 1.88 and a beta of 1.11. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33. The stock has a 50 day moving average price of $73.28 and a two-hundred day moving average price of $75.51. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

Sysco (NYSE:SYY) last released 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 return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the company posted $0.89 earnings per share. Equities analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

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

Insider Buying and Selling at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.54% of the company’s stock.

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.