Apollon Wealth Management LLC Has $1.69 Million Stock Position in Sysco Co. (NYSE:SYY)

Apollon Wealth Management LLC grew its stake in Sysco Co. (NYSE:SYY) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,124 shares of the company’s stock after acquiring an additional 196 shares during the period. Apollon Wealth Management LLC’s holdings in Sysco were worth $1,691,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Maryland State Retirement & Pension System boosted its position in Sysco by 1.9% in the 4th quarter. Maryland State Retirement & Pension System now owns 39,494 shares of the company’s stock valued at $2,888,000 after buying an additional 739 shares during the last quarter. Private Advisor Group LLC increased its position in Sysco by 20.3% in the fourth quarter. Private Advisor Group LLC now owns 42,175 shares of the company’s stock worth $3,084,000 after purchasing an additional 7,128 shares during the period. MeadowBrook Investment Advisors LLC bought a new stake in Sysco during the 4th quarter worth about $361,000. Summit Trail Advisors LLC lifted its position in Sysco by 8.5% during the 4th quarter. Summit Trail Advisors LLC now owns 9,642 shares of the company’s stock valued at $705,000 after purchasing an additional 759 shares during the period. Finally, Gallacher Capital Management LLC bought a new position in shares of Sysco in the 4th quarter valued at about $291,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sysco

In related news, CAO Neil Russell sold 1,722 shares of the company’s 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 transaction, the chief accounting officer now owns 24,082 shares in the company, valued at approximately $1,926,560. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.58% of the company’s stock.

Sysco Stock Down 1.0 %

NYSE:SYY traded down $0.79 on Wednesday, hitting $75.02. 679,357 shares of the company’s stock were exchanged, compared to its average volume of 2,943,912. The firm has a 50-day moving average price of $78.44 and a 200-day moving average price of $75.45. Sysco Co. has a 52 week low of $62.24 and a 52 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. The company has a market cap of $37.36 billion, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 1.92 and a beta of 1.16.

Sysco (NYSE:SYY) last released its 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. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The business had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. During the same period last year, the business earned $0.90 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. As a group, analysts expect 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 issued a dividend of $0.51 per share. This is an increase from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. This represents a $2.04 annualized dividend and a yield of 2.72%. Sysco’s dividend payout ratio (DPR) is currently 49.76%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SYY shares. Piper Sandler reduced their price objective on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Barclays lifted their price objective on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Stephens raised their target price on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Truist Financial decreased their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, BMO Capital Markets lifted their price objective on shares of Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average target price of $84.56.

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.