Providence Capital Advisors LLC Buys 1,944 Shares of Sysco Co. (NYSE:SYY)

Providence Capital Advisors LLC raised its position in shares of Sysco Co. (NYSE:SYY) by 2.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 82,544 shares of the company’s stock after purchasing an additional 1,944 shares during the quarter. Sysco accounts for about 1.3% of Providence Capital Advisors LLC’s holdings, making the stock its 29th biggest holding. Providence Capital Advisors LLC’s holdings in Sysco were worth $6,311,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SYY. Buckley Wealth Management LLC raised its stake in Sysco by 0.8% in the fourth quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock worth $1,391,000 after buying an additional 150 shares in the last quarter. WR Wealth Planners LLC boosted its stake in Sysco by 9.9% during the 4th quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock valued at $326,000 after purchasing an additional 386 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Sysco by 7.7% during the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock valued at $9,706,000 after purchasing an additional 8,891 shares during the last quarter. Clark & Stuart Inc bought a new position in Sysco in the fourth quarter valued at about $7,613,000. Finally, Kovitz Investment Group Partners LLC boosted its stake in shares of Sysco by 76.0% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 135,362 shares of the company’s stock worth $10,256,000 after acquiring an additional 58,430 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SYY. Barclays reduced their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Guggenheim restated a “buy” rating and issued a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Truist Financial reduced their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their price objective on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Insider Activity at Sysco

In other Sysco 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 completion of the transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.54% of the stock is currently owned by insiders.

Sysco Stock Up 1.7 %

Shares of SYY stock opened at $73.99 on Friday. 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 company has a market cap of $36.20 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The stock’s fifty day moving average price is $72.97 and its 200 day moving average price is $75.18. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.23.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter last year, the firm earned $0.89 EPS. On average, research analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.76%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

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.