Sage Mountain Advisors LLC Takes $265,000 Position in Sysco Co. (NYSE:SYY)

Sage Mountain Advisors LLC purchased a new stake in Sysco Co. (NYSE:SYY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,469 shares of the company’s stock, valued at approximately $265,000.

A number of other large investors also recently modified their holdings of SYY. Ashton Thomas Securities LLC bought a new position in shares of Sysco in the 3rd quarter valued at $26,000. Valley Wealth Managers Inc. bought a new position in Sysco during the 3rd quarter worth $31,000. Stonebridge Financial Group LLC bought a new position in Sysco during the 4th quarter worth $31,000. Sherman Asset Management Inc. bought a new position in Sysco during the 4th quarter worth $31,000. Finally, SRS Capital Advisors Inc. raised its position in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after purchasing an additional 149 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Melius Research raised Sysco to a “hold” rating in a research report on Wednesday, December 18th. Barclays lowered their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. UBS Group lowered their target price on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Truist Financial decreased their price target on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $84.77.

Sysco Stock Performance

Shares of SYY opened at $73.69 on Thursday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The stock has a 50-day moving average of $73.38 and a 200-day moving average of $75.56. The company has a market cap of $36.05 billion, a PE ratio of 18.94, a P/E/G ratio of 1.88 and a beta of 1.11. Sysco Co. has a one year low of $69.03 and a one year high of $82.33.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the prior year, the firm posted $0.89 earnings per share. On average, equities research analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.77%. Sysco’s dividend payout ratio is presently 52.44%.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction dated Thursday, January 2nd. The stock was 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 owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.54% of the company’s stock.

Sysco 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.