Proficio Capital Partners LLC Makes New Investment in Sysco Co. (NYSE:SYY)

Proficio Capital Partners LLC bought a new stake in Sysco Co. (NYSE:SYY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 115,265 shares of the company’s stock, valued at approximately $8,813,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Seizert Capital Partners LLC raised its position in shares of Sysco by 9.2% during the 4th quarter. Seizert Capital Partners LLC now owns 545,271 shares of the company’s stock valued at $41,691,000 after acquiring an additional 45,742 shares during the last quarter. Atria Investments Inc grew its stake in shares of Sysco by 8.1% during the fourth quarter. Atria Investments Inc now owns 40,885 shares of the company’s stock worth $3,126,000 after purchasing an additional 3,080 shares during the period. Assetmark Inc. increased its holdings in Sysco by 38.7% in the fourth quarter. Assetmark Inc. now owns 1,706 shares of the company’s stock valued at $130,000 after purchasing an additional 476 shares during the last quarter. Cookson Peirce & Co. Inc. lifted its stake in Sysco by 50.6% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 7,954 shares of the company’s stock valued at $608,000 after buying an additional 2,671 shares during the period. Finally, Carrera Capital Advisors boosted its holdings in Sysco by 32.9% during the fourth quarter. Carrera Capital Advisors now owns 21,481 shares of the company’s stock worth $1,642,000 after buying an additional 5,316 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on SYY shares. UBS Group cut their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley cut their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company boosted their price target on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Truist Financial dropped their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Melius initiated coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Sysco Trading Up 1.0 %

NYSE:SYY opened at $73.35 on Friday. The company has a market cap of $35.89 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33. The business has a 50 day moving average price of $73.28 and a two-hundred day moving average price of $75.51. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the previous year, the business earned $0.89 earnings per share. As a group, analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio is currently 52.44%.

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.