Choreo LLC Grows Stock Position in Sysco Co. (NYSE:SYY)

Choreo LLC lifted its stake in Sysco Co. (NYSE:SYY) by 83.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,447 shares of the company’s stock after purchasing an additional 4,285 shares during the quarter. Choreo LLC’s holdings in Sysco were worth $691,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Hunter Associates Investment Management LLC increased its holdings in shares of Sysco by 1.5% in the fourth quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock valued at $606,000 after purchasing an additional 125 shares during the last quarter. Hazlett Burt & Watson Inc. increased its holdings in shares of Sysco by 6.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock valued at $165,000 after purchasing an additional 135 shares during the last quarter. Quent Capital LLC increased its holdings in shares of Sysco by 5.0% in the fourth quarter. Quent Capital LLC now owns 2,948 shares of the company’s stock valued at $216,000 after purchasing an additional 140 shares during the last quarter. GHE LLC increased its holdings in shares of Sysco by 1.0% in the fourth quarter. GHE LLC now owns 14,718 shares of the company’s stock valued at $1,076,000 after purchasing an additional 146 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Sysco by 0.5% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 30,360 shares of the company’s stock worth $2,457,000 after acquiring an additional 149 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Down 1.7 %

Shares of NYSE SYY opened at $73.04 on Thursday. The company has a market capitalization of $36.36 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 1.50 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 0.80. The business has a 50-day moving average of $78.89 and a two-hundred day moving average of $75.09. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings results 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. The company had revenue of $19.38 billion during the quarter, compared to the consensus estimate of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. Sysco’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 EPS. On average, analysts forecast that Sysco Co. will post 4.33 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company 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 represents a $2.04 dividend on an annualized basis and a dividend yield of 2.79%. This is a boost from Sysco’s previous quarterly dividend of $0.50. Sysco’s payout ratio is 48.78%.

Insider Transactions at Sysco

In other news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Barclays raised their target price on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Piper Sandler cut their target price on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday. UBS Group cut their target price on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. Finally, Stephens raised their target price on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and a consensus target price of $84.90.

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.