Charles Carroll Financial Partners LLC Takes $201,000 Position in Sysco Co. (NYSE:SYY)

Charles Carroll Financial Partners LLC acquired a new stake in Sysco Co. (NYSE:SYY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,752 shares of the company’s stock, valued at approximately $201,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC grew its holdings in Sysco by 1.2% during the third quarter. Commonwealth Equity Services LLC now owns 323,526 shares of the company’s stock worth $21,369,000 after acquiring an additional 3,897 shares during the period. SVB Wealth LLC increased its holdings in shares of Sysco by 3.8% in the 3rd quarter. SVB Wealth LLC now owns 20,464 shares of the company’s stock valued at $1,352,000 after purchasing an additional 743 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in shares of Sysco by 2.3% in the third quarter. Stratos Wealth Partners LTD. now owns 10,359 shares of the company’s stock valued at $684,000 after purchasing an additional 233 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in Sysco by 19.4% during the third quarter. J.W. Cole Advisors Inc. now owns 5,300 shares of the company’s stock worth $350,000 after buying an additional 860 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Sysco by 4.9% during the third quarter. Bank of New York Mellon Corp now owns 5,651,746 shares of the company’s stock worth $373,298,000 after buying an additional 265,621 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

In other news, CAO Neil Russell sold 1,722 shares of the stock in a transaction on Wednesday, March 6th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

Sysco Trading Up 1.5 %

Shares of SYY traded up $1.11 during mid-day trading on Friday, reaching $75.36. The company had a trading volume of 2,709,679 shares, compared to its average volume of 2,778,819. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The firm has a fifty day simple moving average of $78.65 and a 200-day simple moving average of $75.16. The stock has a market cap of $37.53 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 1.92 and a beta of 1.16. The company has a current ratio of 1.34, a quick ratio of 0.80 and a debt-to-equity ratio of 5.77.

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, beating analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $19.38 billion during the quarter, compared to the consensus estimate of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. On average, sell-side analysts anticipate that Sysco Co. will post 4.31 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared 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. This is a positive change from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 annualized dividend and a yield of 2.71%. Sysco’s dividend payout ratio (DPR) is presently 48.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. 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. Truist Financial decreased their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday. UBS Group dropped their price target on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday. Stephens boosted their price objective on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. increased their target price on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.56.

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.