Pathway Financial Advisors LLC Buys Shares of 3,760 Sysco Co. (NYSE:SYY)

Posted by Eileen French on Jan 25th, 2023

Pathway Financial Advisors LLC bought a new stake in Sysco Co. (NYSE:SYY – Get Rating) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,760 shares of the company’s stock, valued at approximately $266,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Crossmark Global Holdings Inc. grew its stake in shares of Sysco by 0.5% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 24,646 shares of the company’s stock valued at $2,088,000 after purchasing an additional 120 shares during the last quarter. Athena Investment Management boosted its stake in shares of Sysco by 4.6% in the second quarter. Athena Investment Management now owns 2,745 shares of the company’s stock valued at $233,000 after buying an additional 120 shares in the last quarter. Brinker Capital Investments LLC boosted its stake in shares of Sysco by 3.2% in the first quarter. Brinker Capital Investments LLC now owns 3,851 shares of the company’s stock valued at $314,000 after buying an additional 121 shares in the last quarter. Tower Bridge Advisors boosted its stake in shares of Sysco by 3.0% in the second quarter. Tower Bridge Advisors now owns 4,198 shares of the company’s stock valued at $356,000 after buying an additional 123 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its stake in shares of Sysco by 1.9% in the second quarter. EP Wealth Advisors LLC now owns 6,658 shares of the company’s stock valued at $564,000 after buying an additional 123 shares in the last quarter. 81.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SYY. Stephens restated an “overweight” rating and issued a $90.00 price target on shares of Sysco in a research note on Friday, January 13th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 21st. Morgan Stanley lifted their price objective on Sysco from $86.00 to $87.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 18th. Barclays reduced their price objective on Sysco from $100.00 to $92.00 and set an “overweight” rating for the company in a report on Thursday, October 20th. Finally, Wells Fargo & Company reduced their price objective on Sysco from $95.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, January 4th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.60.

Sysco Price Performance

Shares of NYSE SYY traded down $0.22 during trading on Wednesday, reaching $77.89. The company had a trading volume of 321,009 shares, compared to its average volume of 2,020,176. Sysco Co. has a twelve month low of $70.61 and a twelve month high of $91.53. The stock has a market capitalization of $39.47 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 2.13 and a beta of 1.11. The stock has a 50-day moving average price of $80.92 and a two-hundred day moving average price of $81.48. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 9.20.

Sysco (NYSE:SYY – Get Rating) last released its quarterly earnings results on Tuesday, November 1st. The company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.02). Sysco had a return on equity of 137.76% and a net margin of 2.03%. The company had revenue of $19.13 billion during the quarter, compared to analyst estimates of $18.63 billion. As a group, sell-side analysts predict that Sysco Co. will post 4.14 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, January 6th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Thursday, January 5th. Sysco’s dividend payout ratio is currently 69.50%.

Insider Activity

In other news, EVP Greg D. Bertrand sold 12,000 shares of Sysco stock in a transaction on Friday, October 28th. The stock was sold at an average price of $85.00, for a total value of $1,020,000.00. Following the completion of the sale, the executive vice president now owns 40,931 shares of the company’s stock, valued at $3,479,135. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.43% of the company’s stock.

Sysco Company Profile

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Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.