OneAscent Financial Services LLC Has $934,000 Stake in Sysco Corporation (NYSE:SYY)

OneAscent Financial Services LLC increased its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 100.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,402 shares of the company's stock after buying an additional 6,220 shares during the period. OneAscent Financial Services LLC's holdings in Sysco were worth $934,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd increased its position in Sysco by 1,561.6% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,293 shares of the company's stock worth $175,000 after purchasing an additional 2,155 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Sysco by 10.5% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,981 shares of the company's stock valued at $304,000 after buying an additional 379 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Sysco by 94.2% during the 4th quarter. TD Private Client Wealth LLC now owns 15,462 shares of the company's stock valued at $1,182,000 after buying an additional 7,502 shares during the last quarter. Mizuho Securities USA LLC lifted its stake in Sysco by 46.0% during the fourth quarter. Mizuho Securities USA LLC now owns 46,557 shares of the company's stock worth $3,560,000 after purchasing an additional 14,669 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Sysco in the fourth quarter valued at $31,517,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sysco news, Director Sheila Talton sold 356 shares of Sysco stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the transaction, the director owned 12,738 shares in the company, valued at $902,359.92. This trade represents a 2.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.54% of the company's stock.

Sysco Price Performance

Shares of NYSE SYY traded up $0.31 during trading on Monday, hitting $78.72. The company had a trading volume of 2,305,868 shares, compared to its average volume of 3,247,449. The stock has a fifty day simple moving average of $74.58 and a two-hundred day simple moving average of $73.28. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The firm has a market capitalization of $38.16 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 2.36 and a beta of 0.81. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results 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). The firm had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. Sysco had a net margin of 2.36% and a return on equity of 107.96%. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 earnings per share. On average, research analysts expect that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The company 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 a boost from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a yield of 2.74%. The ex-dividend date is Thursday, July 3rd. Sysco's payout ratio is presently 55.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Morgan Stanley raised their price objective on Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. boosted their price objective on Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Bank of America increased their target price on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research note on Friday. Citigroup assumed coverage on Sysco in a report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price objective for the company. Finally, Wells Fargo & Company cut their price objective on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $83.23.

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.