Cetera Investment Advisers Boosts Holdings in Sysco Co. (NYSE:SYY)

Cetera Investment Advisers lifted its stake in Sysco Co. (NYSE:SYY - Free Report) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 320,226 shares of the company's stock after acquiring an additional 10,495 shares during the quarter. Cetera Investment Advisers owned 0.07% of Sysco worth $24,484,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. MV Capital Management Inc. lifted its stake in Sysco by 0.4% during the 4th quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock valued at $2,625,000 after acquiring an additional 144 shares during the period. Morton Community Bank grew its holdings in shares of Sysco by 0.4% in the fourth quarter. Morton Community Bank now owns 40,585 shares of the company's stock valued at $3,103,000 after purchasing an additional 145 shares during the period. Nemes Rush Group LLC grew its holdings in shares of Sysco by 5.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock valued at $201,000 after purchasing an additional 147 shares during the period. SRS Capital Advisors Inc. increased its holdings in Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after purchasing an additional 149 shares during the last quarter. Finally, FineMark National Bank & Trust lifted its position in shares of Sysco by 1.8% during the fourth quarter. FineMark National Bank & Trust now owns 8,580 shares of the company's stock worth $656,000 after purchasing an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Price Performance

Shares of NYSE SYY traded up $0.20 during midday trading on Wednesday, hitting $71.00. 1,258,420 shares of the company's stock were exchanged, compared to its average volume of 3,355,934. Sysco Co. has a 12-month low of $67.12 and a 12-month high of $82.23. 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 company has a market cap of $34.42 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.88 and a beta of 0.80. The business's fifty day moving average price is $72.03 and its two-hundred day moving average price is $74.09.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). Sysco had a return on equity of 106.30% and a net margin of 2.40%. The firm had revenue of $19.60 billion during the quarter, compared to the consensus estimate of $20.11 billion. During the same quarter last year, the company posted $0.96 EPS. Sysco's revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, research analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. The ex-dividend date is Thursday, July 3rd. This is an increase from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a dividend yield of 3.04%. Sysco's dividend payout ratio (DPR) is presently 55.96%.

Insider Activity at Sysco

In other Sysco news, Director Sheila Talton sold 356 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the transaction, the director now directly owns 12,738 shares of the company's stock, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Morgan Stanley reduced their target price on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price objective on shares of Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Truist Financial dropped their price objective on shares of Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Finally, StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $83.38.

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.