Belpointe Asset Management LLC Buys 7,330 Shares of Sysco Co. (NYSE:SYY)

Belpointe Asset Management LLC boosted its stake in shares of Sysco Co. (NYSE:SYY) by 166.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,733 shares of the company’s stock after buying an additional 7,330 shares during the period. Belpointe Asset Management LLC’s holdings in Sysco were worth $915,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Morse Asset Management Inc purchased a new position in shares of Sysco in the 3rd quarter worth about $390,000. Y Intercept Hong Kong Ltd bought a new stake in Sysco during the 3rd quarter valued at about $368,000. Barclays PLC raised its holdings in Sysco by 43.2% in the third quarter. Barclays PLC now owns 1,715,356 shares of the company’s stock worth $133,902,000 after buying an additional 517,219 shares during the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of Sysco by 5.5% in the third quarter. SkyView Investment Advisors LLC now owns 8,509 shares of the company’s stock worth $664,000 after buying an additional 445 shares in the last quarter. Finally, World Investment Advisors LLC purchased a new stake in shares of Sysco during the third quarter valued at approximately $610,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

NYSE SYY opened at $71.27 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The firm has a market capitalization of $34.87 billion, a P/E ratio of 18.32, a PEG ratio of 1.88 and a beta of 0.91. The company has a 50-day moving average price of $72.62 and a 200-day moving average price of $74.67. Sysco Co. has a 52 week low of $67.12 and a 52 week high of $82.23.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share 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 period in the prior year, the firm earned $0.89 EPS. Equities research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current 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 dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.86%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SYY. UBS Group decreased their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Guggenheim restated a “buy” rating and issued a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Melius began coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

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.