MeadowBrook Investment Advisors LLC Invests $361,000 in Sysco Co. (NYSE:SYY)

MeadowBrook Investment Advisors LLC acquired a new stake in shares of Sysco Co. (NYSE:SYY) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 4,930 shares of the company’s stock, valued at approximately $361,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. AdvisorNet Financial Inc grew its holdings in shares of Sysco by 74.0% in the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after purchasing an additional 159 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Sysco during the 4th quarter valued at about $34,000. BluePath Capital Management LLC bought a new stake in Sysco during the 3rd quarter valued at approximately $38,000. Milestone Investment Advisors LLC bought a new stake in shares of Sysco in the third quarter worth about $40,000. Finally, AllSquare Wealth Management LLC bought a new position in shares of Sysco in the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insiders Place Their Bets

In other 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 value of $137,760.00. Following the completion of the sale, the chief accounting officer now owns 24,082 shares in the company, valued at approximately $1,926,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Truist Financial reduced their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. Piper Sandler lowered their target price on Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Barclays increased their target price on shares of Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.56.

Sysco Price Performance

Shares of SYY traded up $0.46 on Tuesday, hitting $75.94. The company’s stock had a trading volume of 811,148 shares, compared to its average volume of 2,940,360. The company has a 50 day moving average price of $78.55 and a 200 day moving average price of $75.38. The company has a market capitalization of $37.82 billion, a PE ratio of 18.41, a PEG ratio of 1.92 and a beta of 1.16. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week 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.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The business had revenue of $19.38 billion for 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 firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business posted $0.90 earnings per share. On average, research analysts anticipate that Sysco Co. will post 4.31 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. Stockholders of record on Friday, July 5th will be issued a $0.51 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.69%. This is a boost from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio is 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.