Benjamin F. Edwards & Company Inc. Has $785,000 Stake in Sysco Co. (NYSE:SYY)

Benjamin F. Edwards & Company Inc. boosted its stake 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. The firm owned 10,726 shares of the company’s stock after buying an additional 1,963 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Sysco were worth $785,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Trian Fund Management L.P. acquired a new position in shares of Sysco in the 3rd quarter valued at about $80,812,000. Invesco Ltd. boosted its holdings in shares of Sysco by 11.0% during the 3rd quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock worth $717,283,000 after buying an additional 1,076,287 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Sysco by 1,591.5% during the 3rd quarter. Acadian Asset Management LLC now owns 764,235 shares of the company’s stock worth $50,462,000 after buying an additional 719,054 shares during the period. Becker Capital Management Inc. increased its stake in shares of Sysco by 3,671.0% in the 3rd quarter. Becker Capital Management Inc. now owns 470,888 shares of the company’s stock valued at $31,102,000 after acquiring an additional 458,401 shares in the last quarter. Finally, Vaughan David Investments LLC IL bought a new position in Sysco during the fourth quarter worth $32,976,000. Institutional investors own 83.41% of the company’s stock.

Insider Transactions at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction dated Wednesday, March 6th. The shares were 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 $1,926,560. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.58% of the company’s stock.

Sysco Price Performance

SYY opened at $75.84 on Wednesday. The firm’s fifty day moving average price is $78.44 and its two-hundred day moving average price is $75.45. The company has a market capitalization of $37.77 billion, a price-to-earnings ratio of 18.50, a P/E/G ratio of 1.92 and a beta of 1.16. 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 1 year low of $62.24 and a 1 year high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The business had revenue of $19.38 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same period in the prior year, the firm posted $0.90 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that Sysco Co. will post 4.31 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, July 5th. This is a positive change from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a dividend yield of 2.69%. Sysco’s dividend payout ratio (DPR) is currently 49.76%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SYY shares. Barclays upped their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. BMO Capital Markets increased their price target on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Truist Financial decreased their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Piper Sandler cut their target price on Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.56.

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.