TCG Advisory Services LLC Acquires 380 Shares of Sysco Co. (NYSE:SYY)

TCG Advisory Services LLC grew its stake in shares of Sysco Co. (NYSE:SYY) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,395 shares of the company’s stock after acquiring an additional 380 shares during the period. TCG Advisory Services LLC’s holdings in Sysco were worth $687,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Stratos Wealth Partners LTD. increased its position in shares of Sysco by 2.3% during the third quarter. Stratos Wealth Partners LTD. now owns 10,359 shares of the company’s stock valued at $684,000 after buying an additional 233 shares during the period. J.W. Cole Advisors Inc. increased its holdings in Sysco by 19.4% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,300 shares of the company’s stock worth $350,000 after acquiring an additional 860 shares during the period. Miracle Mile Advisors LLC lifted its stake in Sysco by 3.1% in the 3rd quarter. Miracle Mile Advisors LLC now owns 12,365 shares of the company’s stock worth $817,000 after purchasing an additional 368 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in Sysco by 2.5% in the 3rd quarter. New York State Teachers Retirement System now owns 551,171 shares of the company’s stock valued at $36,405,000 after purchasing an additional 13,402 shares during the period. Finally, Vision Capital Management Inc. increased its holdings in shares of Sysco by 18.6% in the third quarter. Vision Capital Management Inc. now owns 19,474 shares of the company’s stock worth $1,286,000 after purchasing an additional 3,056 shares during the period. 83.41% of the stock is owned by institutional investors.

Sysco Trading Up 1.5 %

Shares of NYSE:SYY traded up $1.11 on Friday, reaching $75.36. 2,709,679 shares of the company traded hands, compared to its average volume of 2,778,819. The stock has a market capitalization of $37.53 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 1.92 and a beta of 1.16. The business’s 50-day simple moving average is $78.65 and its 200 day simple moving average is $75.16. 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 Co. has a 52 week low of $62.24 and a 52 week high of $82.89.

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 return on equity of 99.88% and a net margin of 2.66%. The business had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same period last year, the company earned $0.90 EPS. Sysco’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities 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. The ex-dividend date is Friday, July 5th. This represents a $2.04 annualized dividend and a yield of 2.71%. This is a boost from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio is presently 48.78%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SYY shares. Truist Financial dropped their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. increased their price target on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Stephens upped their target price 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, Piper Sandler reduced their target price on Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.56.

Insiders Place Their Bets

In other news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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.