Sysco Co. (NYSE:SYY) Stake Increased by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC grew its holdings in Sysco Co. (NYSE:SYY) by 10.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,429 shares of the company’s stock after purchasing an additional 425 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Sysco were worth $324,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its position in Sysco by 11.0% in 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. Norges Bank purchased a new stake in Sysco in the 4th quarter worth approximately $450,794,000. Northern Trust Corp lifted its position in Sysco by 3.0% in the 3rd quarter. Northern Trust Corp now owns 6,138,310 shares of the company’s stock worth $405,435,000 after buying an additional 178,464 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Sysco by 8.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,036,100 shares of the company’s stock worth $222,029,000 after buying an additional 240,671 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Sysco by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,798,311 shares of the company’s stock worth $204,640,000 after buying an additional 59,371 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sysco

In other news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Piper Sandler cut their target price on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. UBS Group cut their target price on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday. BMO Capital Markets dropped their price target on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Truist Financial dropped their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.11.

Sysco Stock Performance

NYSE SYY opened at $72.87 on Friday. 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 firm has a market capitalization of $36.29 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 1.93 and a beta of 1.16. The company’s fifty day moving average is $77.25 and its two-hundred day moving average is $76.10. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89.

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

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.80%. This is a positive change from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio (DPR) is currently 48.78%.

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.