Charles Carroll Financial Partners LLC Takes Position in Sysco Co. (NYSE:SYY)

Charles Carroll Financial Partners LLC acquired a new position in Sysco Co. (NYSE:SYY) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 2,752 shares of the company’s stock, valued at approximately $201,000.

Other large investors have also made changes to their positions in the company. Commonwealth Equity Services LLC increased its position in Sysco by 1.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 323,526 shares of the company’s stock worth $21,369,000 after buying an additional 3,897 shares during the period. SVB Wealth LLC grew its stake in shares of Sysco by 3.8% in the third quarter. SVB Wealth LLC now owns 20,464 shares of the company’s stock worth $1,352,000 after acquiring an additional 743 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in Sysco by 2.3% during the third quarter. Stratos Wealth Partners LTD. now owns 10,359 shares of the company’s stock worth $684,000 after acquiring an additional 233 shares during the period. J.W. Cole Advisors Inc. raised its stake in Sysco by 19.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,300 shares of the company’s stock valued at $350,000 after purchasing an additional 860 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Sysco by 4.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,651,746 shares of the company’s stock valued at $373,298,000 after purchasing an additional 265,621 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Transactions at Sysco

In related news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the sale, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is owned by company insiders.

Sysco Price Performance

NYSE:SYY traded up $1.11 during trading hours on Friday, reaching $75.36. The company had a trading volume of 2,709,679 shares, compared to its average volume of 2,778,819. The company has a quick ratio of 0.80, a current ratio of 1.34 and a debt-to-equity ratio of 5.77. The stock has a 50-day moving average of $78.65 and a two-hundred day moving average of $75.16. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The firm has a market capitalization of $37.53 billion, a PE ratio of 18.38, a PEG ratio of 1.92 and a beta of 1.16.

Sysco (NYSE:SYY) last posted its earnings results 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 business 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 firm earned $0.90 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts forecast that Sysco Co. will post 4.31 earnings per share for the current year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.71%. This is a boost from Sysco’s previous quarterly dividend of $0.50. Sysco’s payout ratio is 48.78%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SYY. Barclays upped their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. BMO Capital Markets lifted their price objective on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Truist Financial cut their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Stephens lifted their price target on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $84.56.

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.