Summit Financial Wealth Advisors LLC Raises Position in Sysco Co. (NYSE:SYY)

Summit Financial Wealth Advisors LLC grew its position in shares of Sysco Co. (NYSE:SYY) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 102,027 shares of the company’s stock after buying an additional 253 shares during the quarter. Sysco accounts for 1.5% of Summit Financial Wealth Advisors LLC’s portfolio, making the stock its 22nd largest position. Summit Financial Wealth Advisors LLC’s holdings in Sysco were worth $7,378,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. F M Investments LLC lifted its holdings in shares of Sysco by 59.5% during the fourth quarter. F M Investments LLC now owns 35,154 shares of the company’s stock valued at $2,688,000 after purchasing an additional 13,113 shares in the last quarter. Bessemer Group Inc. lifted its stake in Sysco by 44.7% during the 4th quarter. Bessemer Group Inc. now owns 9,196 shares of the company’s stock valued at $703,000 after acquiring an additional 2,839 shares during the period. APG Asset Management N.V. purchased a new stake in shares of Sysco during the 4th quarter valued at about $19,818,000. Applied Finance Capital Management LLC bought a new stake in shares of Sysco in the fourth quarter worth approximately $656,000. Finally, Sandhill Capital Partners LLC raised its holdings in shares of Sysco by 1.3% during the fourth quarter. Sandhill Capital Partners LLC now owns 49,850 shares of the company’s stock valued at $3,812,000 after purchasing an additional 637 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYY has been the topic of several research reports. Morgan Stanley dropped their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Melius Research raised Sysco to a “hold” rating in a research report on Wednesday, December 18th. Wells Fargo & Company raised their price objective on shares of Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Finally, UBS Group reduced their target price on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Price Performance

SYY stock traded down $1.14 during trading on Thursday, hitting $69.93. 482,103 shares of the company’s stock traded hands, compared to its average volume of 3,304,555. Sysco Co. has a 52 week low of $67.12 and a 52 week high of $82.23. The stock has a market capitalization of $34.21 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 1.88 and a beta of 0.91. The business has a fifty day simple moving average of $72.68 and a 200 day simple moving average of $74.85. 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 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 in the previous year, the business posted $0.89 earnings per share. As a group, research analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors 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 2.92%. Sysco’s payout ratio is 52.44%.

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.