RFG Advisory LLC Purchases New Holdings in SYSCO Co. (NYSE:SYY)

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RFG Advisory LLC purchased a new stake in SYSCO Co. (NYSE:SYY) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 6,234 shares of the company’s stock, valued at approximately $533,000.

Several other hedge funds also recently modified their holdings of the stock. BlackRock Inc. raised its position in SYSCO by 3.3% during the second quarter. BlackRock Inc. now owns 31,130,419 shares of the company’s stock valued at $2,201,542,000 after purchasing an additional 1,004,706 shares in the last quarter. State Street Corp raised its position in SYSCO by 6.3% during the third quarter. State Street Corp now owns 26,747,724 shares of the company’s stock valued at $2,123,769,000 after purchasing an additional 1,590,356 shares in the last quarter. California Public Employees Retirement System raised its position in SYSCO by 4.9% during the third quarter. California Public Employees Retirement System now owns 3,791,535 shares of the company’s stock valued at $301,048,000 after purchasing an additional 177,287 shares in the last quarter. Nuveen Asset Management LLC raised its position in SYSCO by 1,804.9% during the second quarter. Nuveen Asset Management LLC now owns 2,587,054 shares of the company’s stock valued at $182,956,000 after purchasing an additional 2,451,242 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in SYSCO by 0.5% during the third quarter. Parametric Portfolio Associates LLC now owns 2,317,166 shares of the company’s stock valued at $183,983,000 after purchasing an additional 12,161 shares in the last quarter. Institutional investors and hedge funds own 78.61% of the company’s stock.

Several research analysts have commented on SYY shares. Bank of America boosted their price objective on shares of SYSCO from $76.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. BMO Capital Markets boosted their price objective on shares of SYSCO to $88.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Piper Sandler restated a “neutral” rating and set a $90.00 price objective (down from $94.00) on shares of SYSCO in a research report on Tuesday, January 14th. Piper Jaffray Companies began coverage on shares of SYSCO in a report on Thursday, December 12th. They set an “overweight” rating and a $94.00 price target for the company. Finally, Loop Capital upped their price target on shares of SYSCO to $86.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $79.13.

In related news, SVP Brian R. Todd sold 12,520 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $85.06, for a total value of $1,064,951.20. Following the completion of the sale, the senior vice president now directly owns 28,145 shares in the company, valued at $2,394,013.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Bene sold 39,384 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.00, for a total value of $3,150,720.00. Following the completion of the sale, the chief executive officer now owns 132,929 shares of the company’s stock, valued at $10,634,320. The disclosure for this sale can be found here. Insiders have sold 227,412 shares of company stock valued at $18,867,462 over the last quarter. Company insiders own 5.24% of the company’s stock.

Shares of NYSE:SYY opened at $83.59 on Friday. The company has a fifty day moving average of $84.08 and a 200-day moving average of $78.17. The company has a market capitalization of $42.42 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 2.22 and a beta of 0.48. The company has a debt-to-equity ratio of 3.74, a quick ratio of 0.84 and a current ratio of 1.39. SYSCO Co. has a 52-week low of $61.49 and a 52-week high of $85.98.

SYSCO (NYSE:SYY) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.01. The company had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.53 billion. SYSCO had a net margin of 2.82% and a return on equity of 79.60%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.91 earnings per share. On average, equities analysts forecast that SYSCO Co. will post 3.8 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This is an increase from SYSCO’s previous quarterly dividend of $0.39. This represents a $1.80 annualized dividend and a dividend yield of 2.15%. SYSCO’s dividend payout ratio is 50.70%.

SYSCO Company Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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