Benedict Financial Advisors Inc. Boosts Stock Position in Sysco Co. (NYSE:SYY)

Benedict Financial Advisors Inc. increased its position in Sysco Co. (NYSE:SYY) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,522 shares of the company’s stock after acquiring an additional 479 shares during the quarter. Benedict Financial Advisors Inc.’s holdings in Sysco were worth $4,245,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares during the period. Diamond Hill Capital Management Inc. raised its holdings in Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after acquiring an additional 672,940 shares during the period. Primecap Management Co. CA boosted its stake in shares of Sysco by 9.7% in the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock worth $374,410,000 after acquiring an additional 422,954 shares during the period. Montrusco Bolton Investments Inc. grew its position in shares of Sysco by 8.5% during the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock worth $366,789,000 after purchasing an additional 375,409 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Sysco by 4.1% during the 3rd quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock valued at $332,983,000 after purchasing an additional 168,163 shares during the period. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

NYSE SYY opened at $71.13 on Friday. The company has a market cap of $34.80 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.88 and a beta of 1.17. The business’s 50 day moving average price is $75.78 and its 200-day moving average price is $75.90. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. 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 earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) 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 period last year, the firm posted $0.89 earnings per share. Sell-side analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have issued reports on SYY. Truist Financial cut their price objective on shares of 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 price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. UBS Group decreased their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Jefferies Financial Group lifted their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, Melius started coverage on Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price on the stock. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.38.

Insider Buying and Selling

In related news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. This trade represents a 18.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last three months, insiders sold 79,270 shares of company stock valued at $6,181,946. 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.