Sound Financial Strategies Group LLC Purchases 1,595 Shares of Sysco Co. (NYSE:SYY)

Sound Financial Strategies Group LLC boosted its position in shares of Sysco Co. (NYSE:SYY) by 16.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,112 shares of the company’s stock after purchasing an additional 1,595 shares during the quarter. Sound Financial Strategies Group LLC’s holdings in Sysco were worth $850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in Sysco during the 3rd quarter worth approximately $26,000. Valley Wealth Managers Inc. bought a new stake in Sysco during the 3rd quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new position in Sysco during the 4th quarter worth approximately $31,000. Sherman Asset Management Inc. acquired a new position in Sysco during the 4th quarter worth approximately $31,000. Finally, SRS Capital Advisors Inc. boosted its position in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after acquiring an additional 149 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Insider Activity

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 directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Melius Research raised Sysco to a “hold” rating in a research report on Wednesday, December 18th. Morgan Stanley cut their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Truist Financial dropped their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Guggenheim restated a “buy” rating and issued a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Four equities 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Stock Performance

NYSE:SYY opened at $74.90 on Wednesday. The stock’s 50-day simple moving average is $73.58 and its 200 day simple moving average is $75.63. The firm has a market capitalization of $36.64 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33.

Sysco (NYSE:SYY) last released its quarterly earnings data 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 period last year, the firm earned $0.89 EPS. On average, analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s payout ratio is 52.44%.

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.