Commonwealth Equity Services LLC Purchases 35,943 Shares of Sysco Co. (NYSE:SYY)

Commonwealth Equity Services LLC boosted its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 11.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 359,469 shares of the company's stock after acquiring an additional 35,943 shares during the quarter. Commonwealth Equity Services LLC owned 0.07% of Sysco worth $26,288,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Stratos Wealth Partners LTD. increased its stake in shares of Sysco by 2.3% in the third quarter. Stratos Wealth Partners LTD. now owns 10,359 shares of the company's stock valued at $684,000 after buying an additional 233 shares in the last quarter. J.W. Cole Advisors Inc. boosted its stake in Sysco by 19.4% in the third quarter. J.W. Cole Advisors Inc. now owns 5,300 shares of the company's stock valued at $350,000 after acquiring an additional 860 shares during the last quarter. New York State Teachers Retirement System grew its holdings in Sysco by 2.5% during the 3rd quarter. New York State Teachers Retirement System now owns 551,171 shares of the company's stock worth $36,405,000 after acquiring an additional 13,402 shares during the period. Verdence Capital Advisors LLC lifted its stake in shares of Sysco by 32.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 13,801 shares of the company's stock valued at $912,000 after purchasing an additional 3,416 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Sysco by 203.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 257,364 shares of the company's stock worth $16,999,000 after purchasing an additional 172,619 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SYY shares. BMO Capital Markets raised 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. Stephens upped their target price on shares of Sysco from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, January 31st. StockNews.com lowered shares of Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 1st. JPMorgan Chase & Co. upped their price objective on shares of Sysco from $84.00 to $87.00 and gave the company an "overweight" rating in a research report on Tuesday, March 19th. Finally, Piper Sandler reduced their target price on Sysco from $83.00 to $79.00 and set a "neutral" rating on the stock in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $84.56.

Sysco Stock Up 0.2 %

SYY stock traded up $0.12 during trading hours on Monday, reaching $75.48. 2,567,162 shares of the stock were exchanged, compared to its average volume of 2,966,304. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. The company has a market cap of $37.59 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.92 and a beta of 1.16. The firm's 50-day moving average is $78.65 and its 200-day moving average is $75.31. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89.

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 the consensus estimate of $0.95 by $0.01. The firm had revenue of $19.38 billion for 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 business's quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 EPS. On average, equities research analysts expect that Sysco Co. will post 4.31 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, July 5th. This is a boost from Sysco's previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a yield of 2.70%. Sysco's payout ratio is 48.78%.

Insider Transactions at Sysco

In related news, CAO Neil Russell sold 1,722 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,082 shares of the company's stock, valued at $1,926,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.58% of the company's stock.

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.