Choate Investment Advisors Acquires 358 Shares of Sysco Co. (NYSE:SYY)

Choate Investment Advisors increased its holdings in Sysco Co. (NYSE:SYY) by 7.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,947 shares of the company’s stock after purchasing an additional 358 shares during the period. Choate Investment Advisors’ holdings in Sysco were worth $378,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SYY. Stonebridge Financial Group LLC bought a new stake in Sysco in the fourth quarter worth $31,000. Sherman Asset Management Inc. bought a new stake in Sysco in the fourth quarter worth $31,000. SRS Capital Advisors Inc. increased its position in Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after purchasing an additional 149 shares during the last quarter. HHM Wealth Advisors LLC increased its position in Sysco by 107.4% in the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after purchasing an additional 321 shares during the last quarter. Finally, Hager Investment Management Services LLC bought a new position in Sysco during the fourth quarter valued at $50,000. Institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Truist Financial cut their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Guggenheim reiterated a “buy” rating and set a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. Melius assumed coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. Finally, Morgan Stanley cut their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Insider Buying and Selling at Sysco

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 transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.54% of the company’s stock.

Sysco Stock Up 2.1 %

NYSE:SYY opened at $74.78 on Tuesday. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33. The company has a 50-day moving average of $73.28 and a 200 day moving average of $75.49. The firm has a market cap of $36.58 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period last year, the firm earned $0.89 earnings per share. As a group, research analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, April 4th. Sysco’s payout ratio is 52.44%.

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.