Cypress Capital Group Buys 162 Shares of Sysco Co. (NYSE:SYY)

Cypress Capital Group lifted its stake in shares of Sysco Co. (NYSE:SYY) by 2.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,269 shares of the company’s stock after acquiring an additional 162 shares during the period. Cypress Capital Group’s holdings in Sysco were worth $479,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. National Pension Service lifted its holdings in shares of Sysco by 15.6% during the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after acquiring an additional 166,798 shares during the last quarter. New England Asset Management Inc. lifted its stake in Sysco by 12.7% in the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock worth $10,254,000 after purchasing an additional 14,810 shares during the last quarter. Empowered Funds LLC lifted its stake in Sysco by 29.0% in the third quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock worth $6,115,000 after purchasing an additional 17,587 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after purchasing an additional 672,940 shares during the last quarter. Finally, WR Wealth Planners LLC lifted its stake in Sysco by 9.9% in the fourth quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock worth $326,000 after purchasing an additional 386 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SYY. Jefferies Financial Group boosted their price target on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Wells Fargo & Company boosted their price target on shares of Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Truist Financial lowered their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Barclays lowered their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $84.77.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Sysco Trading Down 0.6 %

Shares of SYY stock opened at $74.48 on Thursday. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm’s 50 day moving average is $73.52 and its 200 day moving average is $75.62. The stock has a market capitalization of $36.44 billion, a P/E ratio of 19.15, a P/E/G ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the previous year, the company earned $0.89 EPS. Research analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio is currently 52.44%.

About Sysco

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.