Sysco Co. (NYSE:SYY) Shares Purchased by Choate Investment Advisors

Choate Investment Advisors grew its stake in shares of Sysco Co. (NYSE:SYY) by 7.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,947 shares of the company’s stock after purchasing an additional 358 shares during the quarter. Choate Investment Advisors’ holdings in Sysco were worth $378,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Fortem Financial Group LLC increased its holdings in shares of Sysco by 3.6% during the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock valued at $296,000 after acquiring an additional 136 shares in the last quarter. Morton Community Bank increased its holdings in shares of Sysco by 0.4% during the fourth quarter. Morton Community Bank now owns 40,585 shares of the company’s stock valued at $3,103,000 after acquiring an additional 145 shares in the last quarter. SRS Capital Advisors Inc. increased its holdings in shares of Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after acquiring an additional 149 shares in the last quarter. S.A. Mason LLC increased its holdings in Sysco by 10.7% in the 4th quarter. S.A. Mason LLC now owns 1,546 shares of the company’s stock worth $118,000 after buying an additional 150 shares during the period. Finally, HM Payson & Co. increased its holdings in Sysco by 0.8% in the 4th quarter. HM Payson & Co. now owns 19,160 shares of the company’s stock worth $1,465,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Trading Up 2.1 %

Shares of NYSE:SYY opened at $74.78 on Tuesday. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33. The firm has a market capitalization of $36.58 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. 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 business’s 50 day moving average price is $73.28 and its 200-day moving average price is $75.49.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) 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 last year, the business posted $0.89 EPS. On average, equities research analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.73%. Sysco’s payout ratio is currently 52.44%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SYY shares. Truist Financial cut their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Melius started coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. Guggenheim reiterated a “buy” rating and issued a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. UBS Group cut their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.54% of the stock is currently owned by insiders.

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.