Sysco Co. (NYSE:SYY) Shares Purchased by Parallel Advisors LLC

Parallel Advisors LLC boosted its holdings in Sysco Co. (NYSE:SYY) by 12.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,640 shares of the company’s stock after buying an additional 619 shares during the quarter. Parallel Advisors LLC’s holdings in Sysco were worth $431,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SYY. State Street Corp increased its stake in Sysco by 11.1% in the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after purchasing an additional 2,721,449 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Sysco in the third quarter worth approximately $137,900,000. Mondrian Investment Partners LTD purchased a new position in shares of Sysco in the fourth quarter worth approximately $123,928,000. Raymond James Financial Inc. purchased a new position in Sysco during the 4th quarter worth approximately $97,078,000. Finally, Nordea Investment Management AB grew its position in Sysco by 52.3% during the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock worth $208,666,000 after purchasing an additional 933,327 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the company’s 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 in the company, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SYY shares. Melius started coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Truist Financial lowered their target price on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley lowered 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. Wells Fargo & Company boosted their price target on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, 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. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Stock Performance

SYY opened at $71.12 on Friday. The company has a market cap of $34.79 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The stock has a 50-day moving average of $73.10 and a 200-day moving average of $75.36. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (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 quarter in the previous year, the company earned $0.89 earnings per share. As a group, equities research analysts forecast that Sysco Co. will post 4.58 earnings per share 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 issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio (DPR) 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.