Sysco Co. (NYSE:SYY) Position Boosted by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. grew its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 251.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,452,073 shares of the company's stock after buying an additional 1,039,088 shares during the period. Burgundy Asset Management Ltd. owned 0.30% of Sysco worth $111,026,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SYY. Boston Partners boosted its holdings in Sysco by 143.7% in the fourth quarter. Boston Partners now owns 12,184,114 shares of the company's stock valued at $930,296,000 after acquiring an additional 7,184,754 shares during the last quarter. Norges Bank acquired a new position in shares of Sysco during the fourth quarter worth about $450,441,000. Capital Research Global Investors lifted its stake in shares of Sysco by 27.3% during the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock worth $687,488,000 after purchasing an additional 1,928,002 shares in the last quarter. Mondrian Investment Partners LTD acquired a new position in shares of Sysco during the fourth quarter worth about $123,928,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Sysco during the fourth quarter worth about $97,078,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Stock Up 1.1%

Sysco stock traded up $0.76 during midday trading on Tuesday, hitting $72.23. The stock had a trading volume of 2,939,612 shares, compared to its average volume of 3,350,394. 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 stock has a market cap of $35.01 billion, a P/E ratio of 18.57, a P/E/G ratio of 1.88 and a beta of 0.80. Sysco Co. has a 12 month low of $67.12 and a 12 month high of $82.23. The business has a fifty day moving average price of $71.64 and a 200 day moving average price of $73.86.

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

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be paid a $0.54 dividend. This is an increase from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco's payout ratio is presently 55.96%.

Insider Buying and Selling at Sysco

In other Sysco news, Director Sheila Talton sold 356 shares of Sysco stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the transaction, the director now directly owns 12,738 shares in the company, valued at $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SYY has been the topic of a number of recent research reports. Truist Financial reduced their price objective on Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley reduced their price objective on Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. Barclays dropped their target price on Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. UBS Group dropped their target price on Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lifted their target price on Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $83.00.

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.