EverSource Wealth Advisors LLC Acquires 324 Shares of Sysco Co. (NYSE:SYY)

EverSource Wealth Advisors LLC raised its holdings in shares of Sysco Co. (NYSE:SYY) by 12.9% during the fourth quarter, Holdings Channel reports. The fund owned 2,838 shares of the company’s stock after buying an additional 324 shares during the period. EverSource Wealth Advisors LLC’s holdings in Sysco were worth $217,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Sequoia Financial Advisors LLC grew its holdings in shares of Sysco by 4.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 21,166 shares of the company’s stock worth $1,618,000 after purchasing an additional 899 shares during the last quarter. Sage Mountain Advisors LLC bought a new position in shares of Sysco in the fourth quarter worth approximately $265,000. Morton Community Bank grew its holdings in shares of Sysco by 0.4% in the fourth quarter. Morton Community Bank now owns 40,585 shares of the company’s stock worth $3,103,000 after purchasing an additional 145 shares during the last quarter. Independent Advisor Alliance grew its holdings in shares of Sysco by 6.3% in the fourth quarter. Independent Advisor Alliance now owns 20,541 shares of the company’s stock worth $1,571,000 after purchasing an additional 1,210 shares during the last quarter. Finally, Paragon Private Wealth Management LLC grew its holdings in shares of Sysco by 6.3% in the fourth quarter. Paragon Private Wealth Management LLC now owns 12,563 shares of the company’s stock worth $961,000 after purchasing an additional 747 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Performance

Shares of Sysco stock opened at $73.35 on Monday. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm has a market capitalization of $35.89 billion, a P/E ratio of 18.86, a P/E/G ratio of 1.88 and a beta of 1.11. The business has a fifty day simple moving average of $73.28 and a two-hundred day simple moving average of $75.51. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter last year, the company earned $0.89 earnings per share. On average, equities analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio is presently 52.44%.

Wall Street Analysts Forecast Growth

SYY has been the topic of several recent analyst reports. Truist Financial cut their target price 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. Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Melius assumed 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. Jefferies Financial Group lifted their price target on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Barclays cut their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Insider Transactions at Sysco

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

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.