NEOS Investment Management LLC Buys 7,364 Shares of Sysco Co. (NYSE:SYY)

NEOS Investment Management LLC grew its stake in Sysco Co. (NYSE:SYY) by 31.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,867 shares of the company’s stock after purchasing an additional 7,364 shares during the period. NEOS Investment Management LLC’s holdings in Sysco were worth $2,360,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYY. Stonebridge Financial Group LLC bought a new stake in Sysco in the fourth quarter worth $31,000. Sherman Asset Management Inc. purchased a new stake in shares of Sysco in the fourth quarter valued at $31,000. Flagship Wealth Advisors LLC bought a new stake in shares of Sysco in the 4th quarter worth about $31,000. SRS Capital Advisors Inc. boosted its stake in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after purchasing an additional 149 shares during the period. Finally, HHM Wealth Advisors LLC grew its holdings in Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock valued at $47,000 after purchasing an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SYY. Truist Financial dropped their target price on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their price objective on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, Morgan Stanley reduced their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Price Performance

NYSE SYY opened at $74.10 on Friday. The company has a market cap of $36.25 billion, a PE ratio of 19.05, a P/E/G ratio of 1.88 and a beta of 1.11. The firm’s 50 day moving average price is $72.99 and its 200-day moving average price is $75.15. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.23.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the prior year, the firm posted $0.89 EPS. Sell-side analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s payout ratio is 52.44%.

Insider Activity

In related news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.54% of the company’s stock.

Sysco 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.