Orion Portfolio Solutions LLC Buys 6,868 Shares of Sysco Co. (NYSE:SYY)

Orion Portfolio Solutions LLC raised its stake in shares of Sysco Co. (NYSE:SYY) by 16.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 49,357 shares of the company’s stock after purchasing an additional 6,868 shares during the period. Orion Portfolio Solutions LLC’s holdings in Sysco were worth $3,774,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Sysco by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company’s stock valued at $4,703,775,000 after acquiring an additional 429,711 shares during the period. State Street Corp lifted its holdings in Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares in the last quarter. Boston Partners boosted its position in shares of Sysco by 143.7% in the fourth quarter. Boston Partners now owns 12,184,114 shares of the company’s stock worth $930,296,000 after purchasing an additional 7,184,754 shares during the period. Diamond Hill Capital Management Inc. increased its stake in shares of Sysco by 7.8% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 7,206,978 shares of the company’s stock worth $551,046,000 after purchasing an additional 521,431 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Sysco during the 4th quarter valued at $450,441,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction that occurred on 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 $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is currently owned by insiders.

Sysco Trading Up 0.1 %

SYY opened at $74.10 on Monday. The stock has a 50-day moving average of $72.99 and a 200 day moving average of $75.12. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.23. The firm has a market cap of $36.25 billion, a P/E ratio of 19.05, a P/E/G ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate 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 prior year, the company posted $0.89 EPS. As a group, research analysts forecast that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.75%. Sysco’s dividend payout ratio is presently 52.44%.

Wall Street Analyst Weigh In

SYY has been the subject of a number of analyst reports. Melius began coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target for the company. Guggenheim reissued a “buy” rating and set a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Truist Financial cut their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Melius Research raised shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Finally, Barclays cut their target price 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. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.