Essential Planning LLC. Invests $866,000 in Sysco Co. (NYSE:SYY)

Essential Planning LLC. purchased a new position in shares of Sysco Co. (NYSE:SYY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,310 shares of the company’s stock, valued at approximately $866,000.

A number of other hedge funds also recently modified their holdings of the business. Ashton Thomas Securities LLC bought a new position in shares of Sysco during the third quarter worth about $26,000. Stonebridge Financial Group LLC bought a new position in shares of Sysco during the fourth quarter worth about $31,000. Valley Wealth Managers Inc. bought a new position in shares of Sysco during the third quarter worth about $31,000. Sherman Asset Management Inc. bought a new position in shares of Sysco during the fourth quarter worth about $31,000. Finally, SRS Capital Advisors Inc. grew its holdings in shares of Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after buying an additional 149 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

SYY has been the subject of a number of research reports. Melius initiated coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. Melius Research upgraded Sysco to a “hold” rating in a report on Wednesday, December 18th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Morgan Stanley decreased their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Finally, Truist Financial decreased their price target on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Stock Performance

NYSE:SYY opened at $72.63 on Friday. The stock has a market cap of $35.53 billion, a P/E ratio of 18.67, a PEG ratio of 1.88 and a beta of 1.11. The stock has a 50 day simple moving average of $73.32 and a 200 day simple moving average of $75.54. 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 1-year low of $69.03 and a 1-year high of $82.33.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting 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 previous year, the company posted $0.89 earnings per share. Research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

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 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 yield of 2.81%. Sysco’s payout ratio is currently 52.44%.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 48,027 shares of Sysco 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.54% of the stock is currently owned by insiders.

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.