Global Assets Advisory LLC Acquires Shares of 14,100 Sysco Co. (NYSE:SYY)

Global Assets Advisory LLC purchased a new position in shares of Sysco Co. (NYSE:SYY) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,100 shares of the company’s stock, valued at approximately $1,145,000.

Other large investors also recently bought and sold shares of the company. First United Bank & Trust purchased a new stake in Sysco in the 4th quarter valued at approximately $26,000. AdvisorNet Financial Inc boosted its stake in shares of Sysco by 74.0% in the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after buying an additional 159 shares in the last quarter. Burkett Financial Services LLC acquired a new position in Sysco during the fourth quarter worth $30,000. Headlands Technologies LLC purchased a new position in Sysco in the fourth quarter worth $34,000. Finally, JFS Wealth Advisors LLC boosted its position in shares of Sysco by 39.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock worth $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.

Analysts Set New Price Targets

SYY has been the subject of a number of research analyst reports. Barclays cut their price target on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. UBS Group decreased their price target on Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. BMO Capital Markets dropped their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. JPMorgan Chase & Co. decreased their target price on Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Finally, Truist Financial dropped their price target on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.90.

Sysco Stock Performance

Shares of NYSE SYY opened at $72.28 on Thursday. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. The company has a market cap of $35.99 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 2.14 and a beta of 1.17. The company has a 50-day simple moving average of $74.17 and a 200-day simple moving average of $76.46. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. The company had revenue of $19.38 billion during the quarter, compared to the consensus estimate of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. Sysco’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 EPS. On average, equities analysts anticipate that Sysco Co. will post 4.29 earnings per share for the current year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.82%. This is an increase from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio is currently 48.78%.

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.