Focus Partners Wealth Has $69.62 Million Holdings in Sysco Co. (NYSE:SYY)

Focus Partners Wealth grew its holdings in Sysco Co. (NYSE:SYY - Free Report) by 37.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 901,939 shares of the company's stock after buying an additional 245,122 shares during the quarter. Focus Partners Wealth owned 0.18% of Sysco worth $69,618,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Emmett Investment Management LP purchased a new position in Sysco in the 4th quarter valued at $3,686,000. Ensign Peak Advisors Inc raised its position in Sysco by 40.4% in the fourth quarter. Ensign Peak Advisors Inc now owns 1,008,954 shares of the company's stock valued at $77,145,000 after purchasing an additional 290,332 shares during the period. Ethic Inc. boosted its holdings in Sysco by 5.6% in the fourth quarter. Ethic Inc. now owns 125,325 shares of the company's stock valued at $9,582,000 after purchasing an additional 6,659 shares during the period. First Manhattan CO. LLC. increased its position in shares of Sysco by 77.5% in the 4th quarter. First Manhattan CO. LLC. now owns 21,071 shares of the company's stock valued at $1,611,000 after purchasing an additional 9,199 shares during the last quarter. Finally, Fiduciary Trust Co lifted its holdings in Sysco by 0.3% during the 4th quarter. Fiduciary Trust Co now owns 66,495 shares of the company's stock worth $5,084,000 after buying an additional 196 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Truist Financial lowered their target price on shares of Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. UBS Group reduced their price objective on shares of Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. BMO Capital Markets cut their price objective on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Barclays cut their price objective on Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Finally, Sanford C. Bernstein set a $87.00 target price on Sysco and gave the company an "overweight" rating in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Sysco presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.38.

Insiders Place Their Bets

In other news, Director Sheila Talton sold 356 shares of the business's 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 completion of the sale, the director now directly owns 12,738 shares in the company, valued at approximately $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.54% of the company's stock.

Sysco Trading Up 1.2%

Shares of Sysco stock traded up $0.83 during trading on Thursday, hitting $71.96. The stock had a trading volume of 1,171,359 shares, compared to its average volume of 3,360,167. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The company has a market capitalization of $34.88 billion, a PE ratio of 18.50, a P/E/G ratio of 1.88 and a beta of 0.80. Sysco Co. has a 1 year low of $67.12 and a 1 year high of $82.23. The stock has a 50 day simple moving average of $71.92 and a 200 day simple moving average of $74.07.

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 the consensus estimate of $1.02 by ($0.06). The company had revenue of $19.60 billion during 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 quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.96 EPS. On average, research analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a $0.54 dividend. This is a positive change from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco's payout ratio is 55.96%.

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.