12,724 Shares in Sysco Co. (NYSE:SYY) Acquired by WESCAP Management Group Inc.

WESCAP Management Group Inc. purchased a new stake in shares of Sysco Co. (NYSE:SYY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 12,724 shares of the company's stock, valued at approximately $931,000.

Other hedge funds have also recently made changes to their positions in the company. Hunter Associates Investment Management LLC lifted its stake in shares of Sysco by 1.5% in the fourth quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company's stock worth $606,000 after acquiring an additional 125 shares during the period. Hazlett Burt & Watson Inc. lifted its stake in shares of Sysco by 6.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company's stock worth $165,000 after acquiring an additional 135 shares during the period. Quent Capital LLC lifted its stake in shares of Sysco by 5.0% in the fourth quarter. Quent Capital LLC now owns 2,948 shares of the company's stock worth $216,000 after acquiring an additional 140 shares during the period. GHE LLC lifted its stake in shares of Sysco by 1.0% in the fourth quarter. GHE LLC now owns 14,718 shares of the company's stock worth $1,076,000 after acquiring an additional 146 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Sysco by 0.5% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 30,360 shares of the company's stock worth $2,457,000 after purchasing an additional 149 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 1st. Piper Sandler lowered their target price on Sysco from $83.00 to $79.00 and set a "neutral" rating for the company in a report on Wednesday. BMO Capital Markets lifted their target price on Sysco from $85.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, January 31st. UBS Group decreased their price objective on Sysco from $92.00 to $87.00 and set a "buy" rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted 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. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $84.56.

Insider Activity at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value 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 approximately $1,926,560. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.58% of the stock is owned by corporate insiders.

Sysco Trading Up 1.5 %

SYY stock traded up $1.11 during trading on Friday, hitting $75.36. 2,709,679 shares of the company traded hands, compared to its average volume of 2,778,819. The firm has a market capitalization of $37.53 billion, a PE ratio of 18.38, a P/E/G ratio of 1.92 and a beta of 1.16. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The company has a 50-day moving average of $78.65 and a 200-day moving average of $75.31. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.80 and a current ratio of 1.34.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.01. The company had revenue of $19.38 billion during the quarter, compared to analysts' expectations of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. Analysts predict that Sysco Co. will post 4.31 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Friday, July 5th. This is a positive change from Sysco's previous quarterly dividend of $0.50. Sysco's dividend payout ratio (DPR) is 48.78%.

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.