Beck Mack & Oliver LLC Raises Stock Holdings in Sysco Co. (NYSE:SYY)

Beck Mack & Oliver LLC increased its holdings in Sysco Co. (NYSE:SYY) by 0.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 185,011 shares of the company’s stock after purchasing an additional 200 shares during the period. Beck Mack & Oliver LLC’s holdings in Sysco were worth $14,146,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Sysco by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company’s stock worth $4,703,775,000 after purchasing an additional 429,711 shares during the last quarter. Invesco Ltd. raised its stake in Sysco by 5.3% in the fourth quarter. Invesco Ltd. now owns 16,907,541 shares of the company’s stock worth $1,292,751,000 after buying an additional 851,441 shares in the last quarter. Boston Partners lifted its holdings in Sysco by 143.7% in 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 during the period. Geode Capital Management LLC grew its holdings in shares of Sysco by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company’s stock worth $905,120,000 after acquiring an additional 233,885 shares during the period. Finally, Capital Research Global Investors raised its position in shares of Sysco by 27.3% in the 4th quarter. Capital Research Global Investors now owns 8,991,476 shares of the company’s stock worth $687,488,000 after acquiring an additional 1,928,002 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Trading Up 1.4 %

Sysco stock opened at $71.71 on Friday. Sysco Co. has a one year low of $67.12 and a one year high of $82.23. The business’s fifty day moving average is $72.67 and its 200 day moving average is $74.56. The stock has a market capitalization of $35.08 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. 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 (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) 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 quarter in the prior year, the firm posted $0.89 EPS. On average, sell-side analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Friday, April 4th. Sysco’s payout ratio is currently 52.44%.

Analyst Upgrades and Downgrades

SYY has been the topic of several recent research reports. Truist Financial reduced their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Guggenheim reaffirmed a “buy” rating and issued a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, UBS Group reduced their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

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.