Choreo LLC Has $1.58 Million Stake in Sysco Co. (NYSE:SYY)

Choreo LLC boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,630 shares of the company’s stock after buying an additional 570 shares during the quarter. Choreo LLC’s holdings in Sysco were worth $1,576,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Armstrong Advisory Group Inc. boosted its holdings in Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares during the period. Ashton Thomas Securities LLC bought a new stake in Sysco during the third quarter valued at about $26,000. Valley Wealth Managers Inc. bought a new stake in Sysco during the third quarter valued at about $31,000. Focused Wealth Management Inc bought a new stake in Sysco during the third quarter valued at about $37,000. Finally, Canoe Financial LP bought a new stake in Sysco during the third quarter valued at about $38,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYY has been the subject of a number of recent analyst reports. Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. UBS Group reduced their target price on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Truist Financial reduced their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Guggenheim reiterated a “buy” rating and issued a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Finally, Melius started coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.38.

Sysco Stock Performance

NYSE SYY opened at $71.13 on Friday. The firm has a market cap of $34.80 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.93 and a beta of 1.18. The company has a 50 day moving average of $75.90 and a 200-day moving average of $75.92. 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 1-year low of $69.03 and a 1-year high of $82.33.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter last year, the business earned $0.89 earnings per share. On average, equities analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s dividend payout ratio is currently 52.44%.

Insider Activity at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the firm’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 $519,920.00. Following the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the transaction, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,270 shares of company stock valued at $6,181,946 over the last quarter. Corporate 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.