Liberty Square Wealth Partners LLC Invests $525,000 in Sysco Co. (NYSE:SYY)

Liberty Square Wealth Partners LLC acquired a new position in shares of Sysco Co. (NYSE:SYY - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 7,380 shares of the company's stock, valued at approximately $525,000.

Several other hedge funds and other institutional investors have also modified their holdings of SYY. Barclays PLC raised its holdings in Sysco by 43.2% during the third quarter. Barclays PLC now owns 1,715,356 shares of the company's stock valued at $133,902,000 after buying an additional 517,219 shares in the last quarter. Atomi Financial Group Inc. raised its holdings in Sysco by 5.0% during the fourth quarter. Atomi Financial Group Inc. now owns 5,438 shares of the company's stock valued at $416,000 after buying an additional 259 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Sysco by 8.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 349,763 shares of the company's stock valued at $26,743,000 after buying an additional 28,176 shares in the last quarter. CX Institutional raised its holdings in Sysco by 6.1% during the fourth quarter. CX Institutional now owns 14,884 shares of the company's stock valued at $1,138,000 after buying an additional 851 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in Sysco by 1.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 20,729 shares of the company's stock valued at $1,585,000 after buying an additional 196 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Stock Performance

SYY stock traded up $0.55 during trading on Thursday, reaching $72.06. 2,588,946 shares of the stock were exchanged, compared to its average volume of 3,339,118. Sysco Co. has a twelve month low of $67.12 and a twelve month high of $82.23. The company has a market capitalization of $34.93 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80. The stock has a 50 day simple moving average of $71.67 and a 200-day simple moving average of $73.84. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

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

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.00%. This is an increase from Sysco's previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco's payout ratio is presently 55.96%.

Analyst Ratings Changes

Several equities analysts have weighed in on SYY shares. Truist Financial cut their target price on Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company dropped their price objective on Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. UBS Group dropped their price objective on Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Guggenheim reiterated a "buy" rating and issued a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. Finally, Wall Street Zen lowered Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $83.00.

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 transaction of $25,219.04. Following the sale, the director now directly owns 12,738 shares of the company's stock, valued at approximately $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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.