Fisher Asset Management LLC Raises Holdings in Sysco Co. (NYSE:SYY)

Fisher Asset Management LLC lifted its stake in Sysco Co. (NYSE:SYY) by 19.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 14,250 shares of the company’s stock after acquiring an additional 2,358 shares during the quarter. Fisher Asset Management LLC’s holdings in Sysco were worth $1,090,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Fortem Financial Group LLC boosted its position in Sysco by 3.6% during the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock worth $296,000 after purchasing an additional 136 shares in the last quarter. S.A. Mason LLC boosted its position in Sysco by 10.7% during the fourth quarter. S.A. Mason LLC now owns 1,546 shares of the company’s stock worth $118,000 after purchasing an additional 150 shares in the last quarter. Cable Hill Partners LLC boosted its position in Sysco by 3.9% during the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock worth $316,000 after purchasing an additional 152 shares in the last quarter. Brooklyn Investment Group boosted its position in Sysco by 12.3% during the fourth quarter. Brooklyn Investment Group now owns 1,410 shares of the company’s stock worth $108,000 after purchasing an additional 154 shares in the last quarter. Finally, Howard Capital Management Inc. boosted its position in Sysco by 5.0% during the fourth quarter. Howard Capital Management Inc. now owns 3,370 shares of the company’s stock worth $258,000 after purchasing an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Down 0.6 %

Sysco stock opened at $74.48 on Thursday. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The stock has a market cap of $36.44 billion, a PE ratio of 19.15, a P/E/G ratio of 1.88 and a beta of 1.17. The stock’s fifty day moving average is $73.52 and its two-hundred day moving average is $75.62.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the company earned $0.89 EPS. On average, sell-side analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

SYY has been the subject of a number of research analyst reports. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Truist Financial reduced their target price on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Jefferies Financial Group increased their target price on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Wells Fargo & Company increased their price target on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Company 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.