Catalyst Financial Partners LLC Sells 209 Shares of Sysco Co. (NYSE:SYY)

Catalyst Financial Partners LLC decreased its holdings in Sysco Co. (NYSE:SYY) by 5.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,957 shares of the company’s stock after selling 209 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Sysco were worth $289,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. increased its position in shares of Sysco by 2.3% during the third quarter. Stratos Wealth Partners LTD. now owns 10,359 shares of the company’s stock valued at $684,000 after acquiring an additional 233 shares during the last quarter. Mackenzie Financial Corp increased its position in Sysco by 13.9% in the third quarter. Mackenzie Financial Corp now owns 76,680 shares of the company’s stock worth $4,929,000 after buying an additional 9,346 shares during the last quarter. IFM Investors Pty Ltd increased its position in Sysco by 3.2% in the third quarter. IFM Investors Pty Ltd now owns 97,334 shares of the company’s stock worth $6,429,000 after buying an additional 3,059 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Sysco by 4.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 87,169 shares of the company’s stock worth $5,758,000 after buying an additional 3,883 shares during the last quarter. Finally, NBT Bank N A NY increased its position in Sysco by 53.6% in the third quarter. NBT Bank N A NY now owns 17,596 shares of the company’s stock worth $1,162,000 after buying an additional 6,140 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SYY. Stephens raised their target price on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. UBS Group cut their price target on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Piper Sandler cut their price target on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Finally, BMO Capital Markets raised their price target on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a report 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $84.56.

Sysco Price Performance

NYSE:SYY traded down $1.19 during trading hours on Wednesday, hitting $74.62. 2,937,187 shares of the company’s stock traded hands, compared to its average volume of 2,970,168. The firm has a market cap of $37.16 billion, a P/E ratio of 18.20, a P/E/G ratio of 1.92 and a beta of 1.16. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The business’s fifty day simple moving average is $78.44 and its two-hundred day simple moving average is $75.45. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The business had revenue of $19.38 billion for the quarter, compared to the consensus estimate of $19.74 billion. During the same quarter last year, the business posted $0.90 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts anticipate that Sysco Co. will post 4.31 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a dividend of $0.51 per share. This is an increase from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a yield of 2.73%. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the firm’s 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.58% of the company’s stock.

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.