Fisher Asset Management LLC Acquires 2,784 Shares of Sysco Co. (NYSE:SYY)

Fisher Asset Management LLC boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 52.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,084 shares of the company’s stock after buying an additional 2,784 shares during the quarter. Fisher Asset Management LLC’s holdings in Sysco were worth $591,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. First United Bank & Trust purchased a new position in Sysco during the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc lifted its holdings in Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares in the last quarter. Burkett Financial Services LLC purchased a new position in Sysco during the fourth quarter valued at approximately $30,000. Headlands Technologies LLC purchased a new position in Sysco during the fourth quarter valued at approximately $34,000. Finally, JFS Wealth Advisors LLC lifted its holdings in Sysco by 39.3% during the fourth quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.8 %

Shares of SYY opened at $73.35 on Monday. The company’s fifty day moving average is $74.22 and its 200 day moving average is $76.45. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The stock has a market capitalization of $36.53 billion, a PE ratio of 17.89, a P/E/G ratio of 2.09 and a beta of 1.17. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The company had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter in the previous year, the business posted $0.90 earnings per share. Sysco’s quarterly revenue was up 2.7% on a year-over-year basis. Sell-side analysts expect that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Friday, July 5th. This is a boost from Sysco’s previous quarterly dividend of $0.50. Sysco’s payout ratio is currently 48.78%.

Analyst Ratings Changes

Several brokerages have weighed in on SYY. Barclays lowered their price target on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. UBS Group lowered their target price on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Piper Sandler lowered their target price on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.10.

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.