Envestnet Asset Management Inc. Has $134.08 Million Stock Holdings in Sysco Co. (NYSE:SYY)

Envestnet Asset Management Inc. grew its position in Sysco Co. (NYSE:SYYFree Report) by 4.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,833,448 shares of the company’s stock after buying an additional 76,284 shares during the period. Envestnet Asset Management Inc.’s holdings in Sysco were worth $134,080,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SYY. First United Bank & Trust acquired a new position in Sysco in the fourth quarter valued at about $26,000. AdvisorNet Financial Inc raised its holdings in shares of Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after acquiring an additional 159 shares during the period. Burkett Financial Services LLC bought a new stake in Sysco in the 4th quarter valued at $30,000. Headlands Technologies LLC bought a new stake in Sysco in the 4th quarter valued at $34,000. Finally, JFS Wealth Advisors LLC lifted its position in Sysco by 39.3% in the 4th quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $37,000 after acquiring an additional 141 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

SYY has been the topic of several research reports. UBS Group cut their price objective on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Truist Financial cut their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Piper Sandler cut their price target on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Morgan Stanley cut their price target on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and an average price target of $85.10.

Get Our Latest Stock Report on SYY

Sysco Price Performance

Sysco stock opened at $72.66 on Friday. The firm has a market capitalization of $36.18 billion, a PE ratio of 17.72, a P/E/G ratio of 2.08 and a beta of 1.17. The company’s 50-day moving average is $75.34 and its 200-day moving average is $76.40. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77.

Sysco (NYSE:SYYGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The business had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same quarter in the prior year, the business earned $0.90 EPS. Sysco’s quarterly revenue was up 2.7% on a year-over-year basis. Sell-side analysts anticipate that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be paid a $0.51 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a yield of 2.81%. This is a positive change from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio is 48.78%.

About Sysco

(Free Report)

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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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