Carret Asset Management LLC Boosts Stake in Sysco Co. (NYSE:SYY)

Carret Asset Management LLC grew its position in shares of Sysco Co. (NYSE:SYY) by 11.8% during the fourth quarter, Holdings Channel reports. The fund owned 22,977 shares of the company’s stock after purchasing an additional 2,421 shares during the period. Carret Asset Management LLC’s holdings in Sysco were worth $1,757,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fortem Financial Group LLC boosted its stake in Sysco by 3.6% in the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock valued at $296,000 after acquiring an additional 136 shares in the last quarter. Morton Community Bank boosted its stake in Sysco by 0.4% in the fourth quarter. Morton Community Bank now owns 40,585 shares of the company’s stock valued at $3,103,000 after acquiring an additional 145 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after acquiring an additional 149 shares in the last quarter. S.A. Mason LLC boosted its stake in Sysco by 10.7% in the fourth quarter. S.A. Mason LLC now owns 1,546 shares of the company’s stock valued at $118,000 after acquiring an additional 150 shares in the last quarter. Finally, HM Payson & Co. boosted its stake in Sysco by 0.8% in the fourth quarter. HM Payson & Co. now owns 19,160 shares of the company’s stock valued at $1,465,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Barclays lowered their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Truist Financial lowered their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Melius initiated coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. Finally, Melius Research raised shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Stock Down 1.4 %

SYY opened at $72.63 on Friday. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33. 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 50-day moving average price of $73.32 and a 200 day moving average price of $75.54. The company has a market cap of $35.53 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the firm posted $0.89 earnings per share. Sell-side analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.81%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insider Buying and Selling

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

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.