Envestnet Asset Management Inc. Boosts Stock Holdings in Sysco Co. (NYSE:SYY)

Envestnet Asset Management Inc. boosted its position in shares of Sysco Co. (NYSE:SYYFree Report) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,833,448 shares of the company’s stock after buying an additional 76,284 shares during the period. Envestnet Asset Management Inc. owned 0.36% of Sysco worth $134,080,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. First United Bank & Trust acquired a new position in shares of Sysco during the 4th quarter worth approximately $26,000. AdvisorNet Financial Inc lifted its holdings in Sysco by 74.0% in the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after acquiring an additional 159 shares during the last quarter. Burkett Financial Services LLC acquired a new position in Sysco in the fourth quarter valued at approximately $30,000. Headlands Technologies LLC acquired a new position in Sysco in the fourth quarter valued at approximately $34,000. Finally, JFS Wealth Advisors LLC lifted its holdings in Sysco by 39.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $37,000 after acquiring an additional 141 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Stock Performance

NYSE:SYY opened at $72.66 on Friday. The firm has a market capitalization of $36.18 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 2.08 and a beta of 1.17. The business’s fifty day moving average price is $75.34 and its 200 day moving average price is $76.40. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89.

Sysco (NYSE:SYYGet Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.95 by $0.01. The firm 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%. Sysco’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 earnings per share. On average, sell-side analysts anticipate that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Friday, July 5th. This is an increase from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio is currently 48.78%.

Analysts Set New Price Targets

A number of research analysts recently commented on SYY shares. Morgan Stanley decreased their price objective on Sysco from $84.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, May 23rd. Piper Sandler decreased their price objective on Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Tuesday, May 28th. UBS Group cut their target price on Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. cut their target price on Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $85.10.

Check Out Our Latest Analysis on Sysco

About Sysco

(Free Report)

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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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