Gallacher Capital Management LLC Takes Position in Sysco Co. (NYSE:SYY)

Gallacher Capital Management LLC acquired a new position in shares of Sysco Co. (NYSE:SYY) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 3,984 shares of the company’s stock, valued at approximately $291,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Invesco Ltd. grew its position in Sysco by 11.0% during the third quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock valued at $717,283,000 after purchasing an additional 1,076,287 shares in the last quarter. Northern Trust Corp raised its stake in shares of Sysco by 3.0% during the 3rd quarter. Northern Trust Corp now owns 6,138,310 shares of the company’s stock worth $405,435,000 after purchasing an additional 178,464 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Sysco by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,738,940 shares of the company’s stock valued at $180,907,000 after buying an additional 21,700 shares in the last quarter. Clarkston Capital Partners LLC raised its position in Sysco by 0.4% during the third quarter. Clarkston Capital Partners LLC now owns 2,320,060 shares of the company’s stock valued at $153,240,000 after acquiring an additional 9,385 shares in the last quarter. Finally, Primecap Management Co. CA grew its position in Sysco by 2.2% in the third quarter. Primecap Management Co. CA now owns 2,158,250 shares of the company’s stock worth $142,552,000 after acquiring an additional 45,505 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of NYSE SYY traded up $0.12 during mid-day trading on Monday, hitting $75.48. The company had a trading volume of 2,567,162 shares, compared to its average volume of 2,956,340. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. 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 firm has a market cap of $37.59 billion, a P/E ratio of 18.38, a PEG ratio of 1.92 and a beta of 1.16. The business’s 50-day simple moving average is $78.65 and its 200-day simple moving average is $75.31.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The company had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $0.90 earnings per share. As a group, analysts predict that Sysco Co. will post 4.31 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.70%. This is a positive change from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, July 5th. Sysco’s dividend payout ratio (DPR) is presently 48.78%.

Insider Activity at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the sale, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SYY shares. Piper Sandler cut their price target 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. JPMorgan Chase & Co. boosted their price target on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. UBS Group reduced their target price on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Truist Financial dropped their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.56.

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.