Columbus Macro LLC Raises Stock Position in Sysco Co. (NYSE:SYY)

Columbus Macro LLC increased its stake in shares of Sysco Co. (NYSE:SYY) by 261.5% in the 4th quarter, HoldingsChannel reports. The firm owned 94,171 shares of the company’s stock after purchasing an additional 68,123 shares during the period. Sysco makes up 1.0% of Columbus Macro LLC’s investment portfolio, making the stock its 27th biggest position. Columbus Macro LLC’s holdings in Sysco were worth $7,200,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Armstrong Advisory Group Inc. increased its position in shares of Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Sysco in the third quarter valued at $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sysco in the 3rd quarter valued at about $31,000. Focused Wealth Management Inc purchased a new stake in shares of Sysco in the third quarter valued at about $37,000. Finally, Canoe Financial LP purchased a new position in Sysco during the 3rd quarter worth $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Greg D. Bertrand sold 21,844 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the sale, the executive vice president now directly owns 60,581 shares of the company’s stock, valued at approximately $4,846,480. The trade was a 26.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the transaction, the director now directly owns 12,955 shares of the company’s stock, valued at $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,270 shares of company stock valued at $6,181,946. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SYY. Truist Financial cut their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Barclays reduced their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. UBS Group lowered their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Jefferies Financial Group lifted their target price on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.85.

Sysco Trading Down 0.8 %

NYSE SYY opened at $72.31 on Tuesday. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33. The firm has a market capitalization of $35.38 billion, a P/E ratio of 18.59, a PEG ratio of 1.93 and a beta of 1.18. The business has a fifty day simple moving average of $76.30 and a 200 day simple moving average of $76.02. 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 (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share 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 quarter in the prior year, the business earned $0.89 EPS. On average, analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

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.