Sysco Co. (NYSE:SYY) Shares Bought by V Square Quantitative Management LLC

V Square Quantitative Management LLC increased its stake in Sysco Co. (NYSE:SYYFree Report) by 77.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,628 shares of the company’s stock after buying an additional 2,018 shares during the quarter. V Square Quantitative Management LLC’s holdings in Sysco were worth $376,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of SYY. WealthPlan Investment Management LLC raised its stake in shares of Sysco by 706.9% during the third quarter. WealthPlan Investment Management LLC now owns 3,381 shares of the company’s stock valued at $223,000 after purchasing an additional 2,962 shares during the period. Coldstream Capital Management Inc. grew its holdings in Sysco by 2.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 7,723 shares of the company’s stock valued at $510,000 after purchasing an additional 178 shares in the last quarter. Duality Advisers LP purchased a new stake in Sysco during the 3rd quarter worth $1,035,000. California Public Employees Retirement System lifted its holdings in Sysco by 1.9% in the 3rd quarter. California Public Employees Retirement System now owns 963,012 shares of the company’s stock worth $63,607,000 after buying an additional 18,048 shares in the last quarter. Finally, Compass Ion Advisors LLC purchased a new position in Sysco in the 3rd quarter valued at about $300,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the transaction, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at $1,926,560. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.58% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. BMO Capital Markets lifted their target price on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Barclays upped their target price on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. UBS Group decreased their price target on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Truist Financial cut their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Piper Sandler decreased their price objective on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average price target of $84.56.

Read Our Latest Report on SYY

Sysco Stock Performance

Shares of NYSE:SYY traded up $0.26 on Tuesday, reaching $75.32. 2,621,435 shares of the company’s stock were exchanged, compared to its average volume of 2,931,934. The business’s 50-day moving average is $77.55 and its two-hundred day moving average is $76.15. 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 Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The firm has a market capitalization of $37.51 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 2.05 and a beta of 1.16.

Sysco (NYSE:SYYGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The firm had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. Sysco’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts forecast that Sysco Co. will post 4.31 EPS for the current year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a yield of 2.71%. This is a positive change from Sysco’s previous quarterly dividend of $0.50. Sysco’s payout ratio is currently 48.78%.

Sysco Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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