Catalyst Financial Partners LLC Sells 209 Shares of Sysco Co. (NYSE:SYY)

Catalyst Financial Partners LLC lowered its stake in shares of Sysco Co. (NYSE:SYY) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,957 shares of the company’s stock after selling 209 shares during the period. Catalyst Financial Partners LLC’s holdings in Sysco were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Trian Fund Management L.P. acquired a new position in Sysco during the third quarter valued at approximately $80,812,000. Invesco Ltd. increased its position in shares of Sysco by 11.0% in the 3rd quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock valued at $717,283,000 after buying an additional 1,076,287 shares in the last quarter. Acadian Asset Management LLC raised its stake in Sysco by 1,591.5% during the 3rd quarter. Acadian Asset Management LLC now owns 764,235 shares of the company’s stock worth $50,462,000 after buying an additional 719,054 shares during the period. Becker Capital Management Inc. raised its stake in Sysco by 3,671.0% during the 3rd quarter. Becker Capital Management Inc. now owns 470,888 shares of the company’s stock worth $31,102,000 after buying an additional 458,401 shares during the period. Finally, Vaughan David Investments LLC IL bought a new position in Sysco during the fourth quarter worth about $32,976,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYY has been the topic of several recent analyst reports. Barclays lifted their price objective on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Stephens boosted their price objective on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Piper Sandler reduced their target price on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and a consensus price target of $84.56.

Insiders Place Their Bets

In other news, CAO Neil Russell sold 1,722 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the transaction, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at $1,926,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.58% of the company’s stock.

Sysco Stock Performance

NYSE SYY traded down $1.19 on Wednesday, hitting $74.62. 2,937,187 shares of the stock were exchanged, compared to its average volume of 2,970,168. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. The business’s fifty day moving average is $78.44 and its 200 day moving average is $75.45. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a market capitalization of $37.16 billion, a PE ratio of 18.20, a P/E/G ratio of 1.92 and a beta of 1.16.

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

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a dividend of $0.51 per share. This is a positive change from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio is 49.76%.

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.