Summit Financial LLC Purchases 5,492 Shares of Sysco Co. (NYSE:SYY)

Summit Financial LLC raised its position in Sysco Co. (NYSE:SYY) by 166.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,788 shares of the company’s stock after acquiring an additional 5,492 shares during the quarter. Summit Financial LLC’s holdings in Sysco were worth $672,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in shares of Sysco during the 4th quarter valued at $31,000. Sherman Asset Management Inc. purchased a new position in Sysco during the fourth quarter valued at $31,000. Flagship Wealth Advisors LLC bought a new stake in Sysco during the fourth quarter valued at about $31,000. SRS Capital Advisors Inc. increased its position in Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after buying an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in shares of Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock valued at $47,000 after buying an additional 321 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Price Performance

NYSE:SYY opened at $75.28 on Thursday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.23. The stock’s 50-day moving average price is $73.11 and its 200-day moving average price is $75.10. The stock has a market capitalization of $36.83 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting 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 in the prior year, the business earned $0.89 EPS. As a group, equities analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Analysts Set New Price Targets

SYY has been the topic of several analyst reports. Morgan Stanley lowered their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Jefferies Financial Group increased their price target on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. decreased their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. Finally, Guggenheim reissued a “buy” rating and set a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.77.

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.