Parallel Advisors LLC increased its stake in SYSCO Co. (NYSE:SYY) by 7.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,065 shares of the company’s stock after purchasing an additional 488 shares during the period. Parallel Advisors LLC’s holdings in SYSCO were worth $604,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in SYY. Chevy Chase Trust Holdings Inc. lifted its stake in SYSCO by 8.5% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 431,041 shares of the company’s stock valued at $34,224,000 after acquiring an additional 33,869 shares during the period. Commerzbank Aktiengesellschaft FI increased its holdings in shares of SYSCO by 1.2% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 265,181 shares of the company’s stock valued at $21,055,000 after purchasing an additional 3,212 shares in the last quarter. Clear Street Markets LLC purchased a new position in shares of SYSCO during the 4th quarter valued at approximately $1,856,000. F3Logic LLC increased its holdings in shares of SYSCO by 9.2% during the 4th quarter. F3Logic LLC now owns 31,445 shares of the company’s stock valued at $2,693,000 after purchasing an additional 2,637 shares in the last quarter. Finally, Alps Advisors Inc. purchased a new position in shares of SYSCO during the 3rd quarter valued at approximately $370,000. Institutional investors own 78.62% of the company’s stock.
In other SYSCO news, EVP Greg D. Bertrand sold 900 shares of the company’s stock in a transaction dated Thursday, January 9th. The shares were sold at an average price of $85.06, for a total value of $76,554.00. Following the transaction, the executive vice president now owns 31,644 shares of the company’s stock, valued at $2,691,638.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert S. Charlton sold 28,948 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $80.43, for a total transaction of $2,328,287.64. Following the completion of the transaction, the executive vice president now directly owns 46,087 shares in the company, valued at approximately $3,706,777.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 163,028 shares of company stock worth $13,690,242. Corporate insiders own 5.24% of the company’s stock.
SYSCO stock opened at $75.06 on Wednesday. The company has a fifty day simple moving average of $83.64 and a 200-day simple moving average of $78.71. The company has a quick ratio of 0.84, a current ratio of 1.25 and a debt-to-equity ratio of 3.42. The firm has a market capitalization of $39.12 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 2.04 and a beta of 0.48. SYSCO Co. has a 52-week low of $64.76 and a 52-week high of $85.98.
SYSCO (NYSE:SYY) last announced its quarterly earnings results on Monday, February 3rd. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. The firm had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $15.11 billion. SYSCO had a net margin of 3.00% and a return on equity of 78.49%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS. On average, research analysts anticipate that SYSCO Co. will post 3.82 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were given a dividend of $0.45 per share. This is a boost from SYSCO’s previous quarterly dividend of $0.39. The ex-dividend date was Thursday, January 2nd. This represents a $1.80 annualized dividend and a dividend yield of 2.40%. SYSCO’s payout ratio is presently 50.70%.
Several equities analysts have recently weighed in on SYY shares. Wells Fargo & Co lowered shares of SYSCO from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $90.00 to $75.00 in a report on Tuesday. ValuEngine lowered shares of SYSCO from a “hold” rating to a “sell” rating in a report on Wednesday, January 15th. Piper Jaffray Companies began coverage on shares of SYSCO in a report on Thursday, December 12th. They issued an “overweight” rating and a $94.00 price target for the company. Loop Capital boosted their price target on shares of SYSCO to $86.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Piper Sandler reissued a “neutral” rating and issued a $90.00 price target (down previously from $94.00) on shares of SYSCO in a report on Tuesday, January 14th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $79.20.
About SYSCO
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
