Sysco Co. (NYSE:SYY) Shares Purchased by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp grew its stake in Sysco Co. (NYSE:SYY) by 18.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 225,737 shares of the company’s stock after purchasing an additional 35,045 shares during the period. Peapack Gladstone Financial Corp’s holdings in Sysco were worth $17,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in SYY. Boston Partners increased its holdings in shares of Sysco by 143.7% during the 4th quarter. Boston Partners now owns 12,184,114 shares of the company’s stock worth $930,296,000 after buying an additional 7,184,754 shares during the last quarter. Norges Bank purchased a new position in Sysco in the fourth quarter worth approximately $450,441,000. Mondrian Investment Partners LTD purchased a new position in Sysco in the fourth quarter worth approximately $123,928,000. Raymond James Financial Inc. purchased a new stake in Sysco in the fourth quarter valued at $97,078,000. Finally, Nordea Investment Management AB lifted its stake in shares of Sysco by 52.3% in the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock valued at $208,666,000 after purchasing an additional 933,327 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Price Performance

Sysco stock opened at $71.41 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The company has a fifty day simple moving average of $73.07 and a 200-day simple moving average of $75.04. The stock has a market cap of $34.94 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.23.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting 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 business posted $0.89 earnings per share. Equities 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. Stockholders of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Friday, April 4th. Sysco’s payout ratio is 52.44%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. Truist Financial lowered their target price on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Finally, Morgan Stanley lowered their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.