3,016 Shares in Sysco Co. (NYSE:SYY) Purchased by Simmons Bank

Simmons Bank bought a new stake in shares of Sysco Co. (NYSE:SYY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,016 shares of the company’s stock, valued at approximately $221,000.

A number of other hedge funds have also recently modified their holdings of the business. Wealthfront Advisers LLC grew its position in Sysco by 263.4% in the 3rd quarter. Wealthfront Advisers LLC now owns 34,007 shares of the company’s stock valued at $2,246,000 after acquiring an additional 24,650 shares during the last quarter. Professional Advisory Services Inc. purchased a new position in Sysco in the 4th quarter worth about $20,057,000. Harbour Trust & Investment Management Co bought a new stake in Sysco during the 4th quarter valued at about $4,623,000. Pacer Advisors Inc. boosted its position in Sysco by 40.1% in the 4th quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock valued at $6,014,000 after buying an additional 23,558 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Sysco by 16.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock worth $21,865,000 after acquiring an additional 41,618 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

NYSE SYY traded down $1.24 on Wednesday, reaching $74.57. 2,252,595 shares of the company’s stock traded hands, compared to its average volume of 2,960,884. The stock has a 50 day moving average price of $78.44 and a 200-day moving average price of $75.45. The firm has a market cap of $37.13 billion, a price-to-earnings ratio of 18.50, a P/E/G ratio of 1.92 and a beta of 1.16. 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 Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings results 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. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The company had revenue of $19.38 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same period in the previous year, the company posted $0.90 earnings per share. Sysco’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts predict that Sysco Co. will post 4.31 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a yield of 2.74%. This is an increase from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio is currently 49.76%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Piper Sandler lowered their price target on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Truist Financial cut their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. upped their price objective on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. UBS Group reduced their price target on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Stephens increased their price objective on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $84.56.

Insider Activity

In other news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.58% of the company’s stock.

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.