Bessemer Group Inc. Acquires 2,839 Shares of Sysco Co. (NYSE:SYY)

Bessemer Group Inc. raised its holdings in Sysco Co. (NYSE:SYY) by 44.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,196 shares of the company’s stock after purchasing an additional 2,839 shares during the period. Bessemer Group Inc.’s holdings in Sysco were worth $703,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Boston Partners grew its position in Sysco by 143.7% during the fourth quarter. Boston Partners now owns 12,184,114 shares of the company’s stock worth $930,296,000 after buying an additional 7,184,754 shares in the last quarter. Norges Bank bought a new stake in shares of Sysco during the 4th quarter valued at $450,441,000. Mondrian Investment Partners LTD bought a new stake in shares of Sysco during the 4th quarter valued at $123,928,000. Raymond James Financial Inc. acquired a new stake in shares of Sysco during the 4th quarter worth $97,078,000. Finally, Nordea Investment Management AB raised its stake in Sysco by 52.3% in the fourth quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock valued at $208,666,000 after purchasing an additional 933,327 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

Sysco stock opened at $71.85 on Tuesday. The business has a 50 day moving average of $72.62 and a 200-day moving average of $74.70. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a 1 year low of $67.12 and a 1 year high of $82.23. The company has a market capitalization of $35.15 billion, a P/E ratio of 18.47, a P/E/G ratio of 1.88 and a beta of 0.91.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the company earned $0.89 earnings per share. On average, equities research analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.84%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of analyst reports. Melius Research upgraded shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Morgan Stanley reduced their price target 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. Melius initiated coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. Truist Financial reduced their target price on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their price target on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

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.