Transce3nd LLC Takes $88,000 Position in Sysco Co. (NYSE:SYY)

Transce3nd LLC bought a new position in Sysco Co. (NYSE:SYY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,148 shares of the company’s stock, valued at approximately $88,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Fortem Financial Group LLC increased its stake in shares of Sysco by 3.6% during the 4th quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock worth $296,000 after purchasing an additional 136 shares during the last quarter. MV Capital Management Inc. increased its position in Sysco by 0.4% during the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company’s stock worth $2,625,000 after buying an additional 144 shares during the last quarter. Morton Community Bank lifted its position in shares of Sysco by 0.4% in the fourth quarter. Morton Community Bank now owns 40,585 shares of the company’s stock valued at $3,103,000 after buying an additional 145 shares during the last quarter. Nemes Rush Group LLC increased its holdings in shares of Sysco by 5.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,631 shares of the company’s stock worth $201,000 after acquiring an additional 147 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its holdings in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after purchasing an additional 149 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the topic of several research analyst reports. UBS Group dropped their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Barclays lowered their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Truist Financial lowered their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Guggenheim restated a “buy” rating and issued a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.77.

Sysco Stock Performance

Sysco stock opened at $71.45 on Tuesday. The business’s 50-day moving average price is $72.69 and its two-hundred day moving average price is $74.50. Sysco Co. has a 12-month low of $67.12 and a 12-month high of $82.23. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The stock has a market cap of $34.96 billion, a PE ratio of 18.37, a P/E/G ratio of 1.88 and a beta of 0.91.

Sysco (NYSE:SYY) last issued its 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 last year, the company earned $0.89 EPS. As a group, analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.86%. Sysco’s dividend payout ratio is presently 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.