Cwm LLC Increases Position in Sysco Co. (NYSE:SYY)

CWM LLC lifted its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 38.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,357 shares of the company's stock after purchasing an additional 11,963 shares during the quarter. CWM LLC's holdings in Sysco were worth $3,171,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of SYY. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Sysco by 6.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,990 shares of the company's stock worth $4,095,000 after buying an additional 3,612 shares in the last quarter. Signaturefd LLC lifted its position in shares of Sysco by 20.5% in the fourth quarter. Signaturefd LLC now owns 6,261 shares of the company's stock worth $458,000 after purchasing an additional 1,065 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Sysco by 115.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,760 shares of the company's stock worth $129,000 after purchasing an additional 942 shares during the last quarter. abrdn plc boosted its stake in shares of Sysco by 70.7% during the 4th quarter. abrdn plc now owns 213,018 shares of the company's stock worth $15,578,000 after buying an additional 88,211 shares during the last quarter. Finally, Hunter Associates Investment Management LLC grew its holdings in shares of Sysco by 1.5% in the 4th quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company's stock valued at $606,000 after acquiring an additional 125 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Neil Russell sold 1,722 shares of the company's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the sale, the chief accounting officer now owns 24,082 shares of the company's stock, valued at $1,926,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is currently owned by company insiders.

Sysco Stock Performance

SYY traded down $0.22 during trading on Thursday, hitting $77.07. The stock had a trading volume of 2,295,710 shares, compared to its average volume of 2,894,744. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80. The firm has a market cap of $38.37 billion, a price-to-earnings ratio of 18.90, a P/E/G ratio of 1.57 and a beta of 1.15. The company has a 50 day moving average price of $79.26 and a 200-day moving average price of $74.67. Sysco Co. has a one year low of $62.24 and a one year high of $82.89.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The business had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.32 billion. During the same period in the prior year, the company posted $0.80 earnings per share. Sysco's revenue was up 3.7% compared to the same quarter last year. As a group, research analysts predict that Sysco Co. will post 4.3 EPS for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, April 4th. Sysco's dividend payout ratio (DPR) is currently 48.90%.

Wall Street Analyst Weigh In

Several research analysts recently commented on SYY shares. BMO Capital Markets increased their price target on Sysco from $85.00 to $90.00 and gave the company an "outperform" rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. increased their price objective on Sysco from $84.00 to $87.00 and gave the company an "overweight" rating in a report on Tuesday, March 19th. Stephens boosted their target price on shares of Sysco from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, January 31st. StockNews.com cut shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, February 1st. Finally, Barclays lifted their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, January 31st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $85.38.

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.