Lee Danner & Bass Inc. Has $14.12 Million Holdings in Sysco Co. (NYSE:SYY)

Lee Danner & Bass Inc. boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 0.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,657 shares of the company’s stock after purchasing an additional 384 shares during the period. Sysco accounts for approximately 1.1% of Lee Danner & Bass Inc.’s holdings, making the stock its 21st largest holding. Lee Danner & Bass Inc.’s holdings in Sysco were worth $14,119,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYY. Boston Partners increased its holdings in Sysco by 143.7% during the 4th quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after purchasing an additional 7,184,754 shares in the last quarter. State Street Corp increased its holdings in Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Sysco during the 3rd quarter valued at $137,900,000. Mondrian Investment Partners LTD acquired a new stake in Sysco during the 4th quarter valued at $123,928,000. Finally, Raymond James Financial Inc. acquired a new stake in Sysco during the 4th quarter valued at $97,078,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Down 1.8 %

NYSE:SYY opened at $71.12 on Friday. Sysco Co. has a 12-month low of $69.03 and a 12-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 firm has a market capitalization of $34.79 billion, a P/E ratio of 18.28, a P/E/G ratio of 1.88 and a beta of 1.11. The stock’s fifty day simple moving average is $73.15 and its 200-day simple moving average is $75.41.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting 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 period last year, the company posted $0.89 EPS. Equities research analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued 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 yield of 2.87%. Sysco’s dividend payout ratio is presently 52.44%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SYY. Jefferies Financial Group raised their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Truist Financial lowered their target price on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Barclays lowered their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Finally, Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Sysco has an average rating of “Moderate Buy” and an average price target of $84.77.

Insiders Place Their Bets

In other Sysco 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 transaction of $3,698,079.00. Following the transaction, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.