Mystic Asset Management Inc. Makes New Investment in Sysco Co. (NYSE:SYY)

Mystic Asset Management Inc. acquired a new stake in Sysco Co. (NYSE:SYY) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,282 shares of the company’s stock, valued at approximately $786,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Leelyn Smith LLC raised its stake in Sysco by 2.4% during the 4th quarter. Leelyn Smith LLC now owns 32,003 shares of the company’s stock valued at $2,447,000 after purchasing an additional 745 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new position in shares of Sysco during the fourth quarter valued at about $31,000. Terra Alpha Investments LLC bought a new stake in shares of Sysco in the fourth quarter valued at about $1,454,000. Signaturefd LLC grew its position in Sysco by 8.0% during the fourth quarter. Signaturefd LLC now owns 6,110 shares of the company’s stock worth $467,000 after buying an additional 452 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Sysco by 12.3% during the fourth quarter. Parallel Advisors LLC now owns 5,640 shares of the company’s stock valued at $431,000 after acquiring an additional 619 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

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

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

Sysco Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have commented on the company. Truist Financial reduced their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Barclays dropped 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. Morgan Stanley decreased their target price 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. Finally, Jefferies Financial Group increased their price target on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Four 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Insider Transactions at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.54% of the stock is owned by company insiders.

Sysco Company 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.