Marshall Wace LLP Buys New Shares in Sysco Co. (NYSE:SYY)

Marshall Wace LLP purchased a new position in Sysco Co. (NYSE:SYY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 26,428 shares of the company's stock, valued at approximately $2,021,000.

Several other institutional investors also recently modified their holdings of SYY. Stonebridge Financial Group LLC purchased a new stake in shares of Sysco during the fourth quarter valued at $31,000. Sherman Asset Management Inc. purchased a new stake in Sysco during the fourth quarter valued at about $31,000. Flagship Wealth Advisors LLC acquired a new position in shares of Sysco in the fourth quarter worth about $31,000. SRS Capital Advisors Inc. increased its position in shares of Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after acquiring an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC raised its holdings in shares of Sysco by 107.4% during the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock valued at $47,000 after acquiring an additional 321 shares during the period. Institutional investors own 83.41% of the company's stock.

Analysts Set New Price Targets

SYY has been the subject of a number of research analyst reports. Guggenheim restated a "buy" rating and issued a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. BMO Capital Markets lowered their target price on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday. Truist Financial dropped 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. Barclays raised their price target on shares of Sysco from $85.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday, April 22nd. Finally, Sanford C. Bernstein set a $87.00 target price on shares of Sysco and gave the stock an "overweight" rating in a research report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $83.79.

Sysco Stock Performance

SYY traded up $1.12 on Wednesday, hitting $71.36. The company had a trading volume of 4,730,334 shares, compared to its average volume of 3,385,631. Sysco Co. has a 1-year low of $67.12 and a 1-year high of $82.23. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The company's fifty day moving average price is $72.77 and its 200 day moving average price is $74.38. The stock has a market cap of $34.91 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $20.11 billion. During the same period in the prior year, the company posted $0.96 earnings per share. Sysco's quarterly revenue was up 1.1% on a year-over-year basis. Equities analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a $0.54 dividend. This is an increase from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a yield of 3.03%. The ex-dividend date is Thursday, July 3rd. Sysco's payout ratio is currently 55.53%.

About Sysco

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.