Generation Capital Management LLC Acquires New Position in Sysco Co. (NYSE:SYY)

Generation Capital Management LLC bought a new position in shares of Sysco Co. (NYSE:SYY) during the fourth quarter, HoldingsChannel reports. The firm bought 7,793 shares of the company’s stock, valued at approximately $596,000.

Several other hedge funds also recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new position in Sysco in the fourth quarter worth about $31,000. Sherman Asset Management Inc. bought a new stake in shares of Sysco in the 4th quarter worth approximately $31,000. Flagship Wealth Advisors LLC acquired a new position in Sysco during the 4th quarter valued at approximately $31,000. SRS Capital Advisors Inc. grew its stake in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after buying an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC increased its position in Sysco by 107.4% in the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after buying an additional 321 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Barclays reduced their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Truist Financial decreased their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Guggenheim reaffirmed a “buy” rating and set a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, Wells Fargo & Company lifted their target price on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Four equities research 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.com, Sysco has a consensus rating of “Moderate Buy” and an average price target of $84.77.

Sysco Trading Up 1.4 %

Shares of Sysco stock opened at $71.71 on Friday. The business has a fifty day simple moving average of $72.64 and a 200-day simple moving average of $74.60. Sysco Co. has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The firm has a market cap of $35.08 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting 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 prior year, the business posted $0.89 earnings per share. On average, equities analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The firm 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 annualized dividend and a yield of 2.84%. Sysco’s dividend payout ratio (DPR) is 52.44%.

Sysco Company 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.