Choreo LLC Purchases 4,285 Shares of Sysco Co. (NYSE:SYY)

Choreo LLC boosted its position in Sysco Co. (NYSE:SYY) by 83.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,447 shares of the company’s stock after purchasing an additional 4,285 shares during the quarter. Choreo LLC’s holdings in Sysco were worth $691,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SYY. Commonwealth Equity Services LLC increased its holdings in shares of Sysco by 1.2% during the third quarter. Commonwealth Equity Services LLC now owns 323,526 shares of the company’s stock valued at $21,369,000 after acquiring an additional 3,897 shares in the last quarter. SVB Wealth LLC boosted its position in shares of Sysco by 3.8% during the third quarter. SVB Wealth LLC now owns 20,464 shares of the company’s stock valued at $1,352,000 after buying an additional 743 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Sysco by 74.6% during the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock valued at $28,000 after buying an additional 179 shares during the last quarter. 1834 Investment Advisors Co. boosted its position in shares of Sysco by 28.7% during the third quarter. 1834 Investment Advisors Co. now owns 13,000 shares of the company’s stock valued at $859,000 after buying an additional 2,900 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its position in shares of Sysco by 2.3% during the third quarter. Stratos Wealth Partners LTD. now owns 10,359 shares of the company’s stock valued at $684,000 after buying an additional 233 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

SYY has been the topic of several recent analyst reports. Stephens increased their price objective on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Piper Sandler dropped their price objective on Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday. Barclays increased their price objective on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. raised 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. Finally, BMO Capital Markets raised their target price on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $84.90.

Sysco Stock Down 1.7 %

Shares of SYY opened at $73.04 on Thursday. The business’s 50 day moving average is $78.89 and its 200 day moving average is $75.09. The company has a market capitalization of $36.36 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 1.50 and a beta of 1.16. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The company has a current ratio of 1.34, a quick ratio of 0.80 and a debt-to-equity ratio of 5.77.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.01. The company had revenue of $19.38 billion for the quarter, compared to the consensus estimate of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $0.90 EPS. Research analysts expect that Sysco Co. will post 4.33 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company 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 is an increase from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a yield of 2.79%. Sysco’s payout ratio is presently 48.78%.

Insiders Place Their Bets

In other Sysco news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

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.