Sandhill Capital Partners LLC Boosts Stake in Sysco Co. (NYSE:SYY)

Sandhill Capital Partners LLC boosted its position in shares of Sysco Co. (NYSE:SYY) by 1.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 49,850 shares of the company’s stock after acquiring an additional 637 shares during the period. Sandhill Capital Partners LLC’s holdings in Sysco were worth $3,812,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SYY. Boston Partners grew its holdings in shares of Sysco by 143.7% in the fourth 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. Norges Bank purchased a new position in shares of Sysco in the 4th quarter worth $450,441,000. Mondrian Investment Partners LTD bought a new stake in shares of Sysco in the 4th quarter worth about $123,928,000. Raymond James Financial Inc. purchased a new stake in shares of Sysco during the 4th quarter valued at about $97,078,000. Finally, Nordea Investment Management AB grew its position in Sysco by 52.3% in the fourth quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock worth $208,666,000 after acquiring an additional 933,327 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SYY shares. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Wells Fargo & Company lifted their target price on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Jefferies Financial Group upped their price target on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Truist Financial reduced their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Barclays dropped their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Trading Down 2.9 %

Sysco stock opened at $69.40 on Tuesday. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The stock has a market cap of $33.95 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. The stock has a 50-day moving average of $72.92 and a two-hundred day moving average of $75.01. Sysco Co. has a one year low of $68.65 and a one year high of $82.23.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, January 28th. The company reported $0.93 EPS 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 in the previous year, the firm posted $0.89 earnings per share. On average, 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 paid 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 2.94%. Sysco’s payout ratio is presently 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.