GeoWealth Management LLC Boosts Holdings in Sysco Co. (NYSE:SYY)

GeoWealth Management LLC boosted its stake in Sysco Co. (NYSE:SYY) by 46.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,548 shares of the company’s stock after acquiring an additional 2,083 shares during the period. GeoWealth Management LLC’s holdings in Sysco were worth $501,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cadence Bank boosted its position in shares of Sysco by 1.7% in the 4th quarter. Cadence Bank now owns 66,667 shares of the company’s stock valued at $5,097,000 after purchasing an additional 1,084 shares during the period. CANADA LIFE ASSURANCE Co grew its position in Sysco by 23.3% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 781,314 shares of the company’s stock worth $59,707,000 after purchasing an additional 147,713 shares during the last quarter. Marshall Wace LLP acquired a new position in Sysco in the fourth quarter valued at $2,021,000. NFJ Investment Group LLC boosted its stake in shares of Sysco by 13.3% during the fourth quarter. NFJ Investment Group LLC now owns 38,172 shares of the company’s stock worth $2,919,000 after buying an additional 4,493 shares during the period. Finally, Regal Investment Advisors LLC boosted its stake in shares of Sysco by 2.8% during the fourth quarter. Regal Investment Advisors LLC now owns 21,980 shares of the company’s stock worth $1,681,000 after buying an additional 605 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Up 1.4 %

SYY stock opened at $71.71 on Monday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a 12 month low of $67.12 and a 12 month high of $82.23. The firm has a market capitalization of $35.08 billion, a PE ratio of 18.43, a P/E/G ratio of 1.88 and a beta of 0.91. The company’s 50 day simple moving average is $72.67 and its 200-day simple moving average is $74.53.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates 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 prior year, the firm earned $0.89 earnings per share. Equities analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.84%. Sysco’s payout ratio is currently 52.44%.

Wall Street Analyst Weigh In

Several analysts have commented on SYY shares. Barclays reduced their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Guggenheim reaffirmed a “buy” rating and set a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. UBS Group cut their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their target price on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Truist Financial cut their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco 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.