Syon Capital LLC Has $549,000 Stock Holdings in Sysco Co. (NYSE:SYY)

Syon Capital LLC lifted its stake in Sysco Co. (NYSE:SYY) by 24.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,505 shares of the company’s stock after acquiring an additional 1,464 shares during the quarter. Syon Capital LLC’s holdings in Sysco were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Chicago Partners Investment Group LLC increased its holdings in shares of Sysco by 1.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock valued at $536,000 after purchasing an additional 124 shares in the last quarter. Hunter Associates Investment Management LLC raised its position in shares of Sysco by 1.5% during the 4th quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock valued at $606,000 after acquiring an additional 125 shares during the last quarter. Bell Investment Advisors Inc raised its position in shares of Sysco by 8.2% during the 4th quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock valued at $126,000 after acquiring an additional 131 shares during the last quarter. Beacon Investment Advisors LLC raised its position in shares of Sysco by 0.5% during the 4th quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock valued at $1,805,000 after acquiring an additional 133 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Sysco by 6.4% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock valued at $165,000 after acquiring an additional 135 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. UBS Group dropped their target price on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Piper Sandler dropped their target price on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Morgan Stanley dropped their target price on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, May 23rd. Barclays lowered their price objective on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Finally, Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Tuesday, May 28th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.10.

Sysco Price Performance

Shares of NYSE SYY opened at $70.69 on Monday. The firm has a market cap of $35.20 billion, a PE ratio of 17.24, a PEG ratio of 2.03 and a beta of 1.17. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89. The company has a fifty day moving average price of $74.59 and a 200 day moving average price of $76.45.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $19.38 billion during the quarter, compared to analyst estimates of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 EPS. Research analysts predict that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be paid a $0.51 dividend. The ex-dividend date is Friday, July 5th. This is a positive change from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a yield of 2.89%. Sysco’s dividend payout ratio is presently 48.78%.

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.