Benjamin F. Edwards & Company Inc. Purchases 1,963 Shares of Sysco Co. (NYSE:SYY)

Benjamin F. Edwards & Company Inc. raised its position in shares of Sysco Co. (NYSE:SYY) by 22.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,726 shares of the company’s stock after acquiring an additional 1,963 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Sysco were worth $785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYY. Accretive Wealth Partners LLC grew its stake in shares of Sysco by 1.0% in the 4th quarter. Accretive Wealth Partners LLC now owns 21,788 shares of the company’s stock worth $1,593,000 after buying an additional 212 shares in the last quarter. Los Angeles Capital Management LLC grew its position in Sysco by 0.6% in the fourth quarter. Los Angeles Capital Management LLC now owns 201,557 shares of the company’s stock worth $14,740,000 after acquiring an additional 1,264 shares in the last quarter. Natixis Advisors L.P. increased its stake in Sysco by 55.0% during the fourth quarter. Natixis Advisors L.P. now owns 575,809 shares of the company’s stock worth $42,108,000 after acquiring an additional 204,362 shares during the last quarter. Commonwealth Equity Services LLC raised its position in Sysco by 11.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 359,469 shares of the company’s stock valued at $26,288,000 after purchasing an additional 35,943 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in shares of Sysco by 12.4% in the 4th quarter. First Horizon Advisors Inc. now owns 12,776 shares of the company’s stock valued at $934,000 after purchasing an additional 1,407 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Price Performance

NYSE SYY opened at $75.84 on Wednesday. The stock’s fifty day moving average price is $78.44 and its 200 day moving average price is $75.45. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. The company has a market cap of $37.77 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 1.92 and a beta of 1.16.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The business had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 earnings per share. As a group, equities research analysts forecast that Sysco Co. will post 4.31 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a $0.51 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.69%. This is a positive change from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio is presently 49.76%.

Analyst Ratings Changes

A number of research firms have recently commented on SYY. Truist Financial cut their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. UBS Group cut their price objective on Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lifted their target price on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Finally, Barclays boosted their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and an average target price of $84.56.

Insider Buying and Selling

In other news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the transaction, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.58% of the stock is currently owned by corporate insiders.

About Sysco

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.