Everpar Advisors LLC Takes Position in Sysco Co. (NYSE:SYY)

Everpar Advisors LLC purchased a new position in Sysco Co. (NYSE:SYY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,545 shares of the company’s stock, valued at approximately $698,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYY. AdvisorNet Financial Inc raised its position in Sysco by 74.0% during the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares during the last quarter. Headlands Technologies LLC purchased a new position in Sysco during the 4th quarter valued at $34,000. BluePath Capital Management LLC bought a new position in Sysco in the 3rd quarter worth $38,000. Milestone Investment Advisors LLC purchased a new stake in shares of Sysco in the 3rd quarter worth about $40,000. Finally, AllSquare Wealth Management LLC bought a new stake in shares of Sysco during the 3rd quarter valued at about $42,000. Institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of research analyst reports. Stephens upped their target price on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. boosted their target price on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. BMO Capital Markets lifted their price target on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Piper Sandler cut their price objective on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Truist Financial lowered their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $84.56.

Sysco Stock Up 0.5 %

SYY stock traded up $0.36 during midday trading on Tuesday, hitting $75.84. The company’s stock had a trading volume of 3,333,289 shares, compared to its average volume of 2,970,474. The company has a market cap of $37.77 billion, a PE ratio of 18.50, a P/E/G ratio of 1.92 and a beta of 1.16. The firm’s 50-day moving average is $78.44 and its 200-day moving average is $75.45. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.95 by $0.01. The company had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. Sysco’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.90 earnings per share. On average, equities research analysts forecast that Sysco Co. will post 4.31 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be issued a $0.51 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.04 annualized dividend and a yield of 2.69%. This is a boost from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio (DPR) is currently 48.78%.

Insider Buying and Selling at Sysco

In related news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the sale, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at $1,926,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.58% of the company’s stock.

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.