Synergy Investment Management LLC Purchases Shares of 898 Sysco Co. (NYSE:SYY)

Synergy Investment Management LLC acquired a new stake in shares of Sysco Co. (NYSE:SYY) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 898 shares of the company’s stock, valued at approximately $69,000.

A number of other large investors have also recently made changes to their positions in SYY. Ashton Thomas Securities LLC purchased a new position in shares of Sysco during the 3rd quarter valued at about $26,000. Valley Wealth Managers Inc. purchased a new position in shares of Sysco during the 3rd quarter valued at about $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Sysco during the 4th quarter valued at about $31,000. Sherman Asset Management Inc. purchased a new position in shares of Sysco during the 4th quarter valued at about $31,000. Finally, SRS Capital Advisors Inc. lifted its position in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after buying an additional 149 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sysco

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Truist Financial lowered their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Guggenheim reissued a “buy” rating and issued a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. Barclays lowered their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Finally, UBS Group lowered their price target on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Stock Down 1.0 %

NYSE SYY opened at $74.90 on Wednesday. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The company has a market capitalization of $36.64 billion, a P/E ratio of 19.25, a P/E/G ratio of 1.88 and a beta of 1.17. Sysco Co. has a one year low of $69.03 and a one year high of $82.33. The stock has a 50 day moving average price of $73.58 and a 200-day moving average price of $75.63.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the prior year, the company posted $0.89 earnings per share. As a group, equities analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.72%. Sysco’s payout ratio is presently 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.