Leelyn Smith LLC Increases Holdings in Sysco Co. (NYSE:SYY)

Leelyn Smith LLC increased its position in Sysco Co. (NYSE:SYY) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 32,003 shares of the company’s stock after acquiring an additional 745 shares during the quarter. Leelyn Smith LLC’s holdings in Sysco were worth $2,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SYY. Assetmark Inc. grew its position in shares of Sysco by 18.6% during the 3rd quarter. Assetmark Inc. now owns 1,230 shares of the company’s stock valued at $96,000 after acquiring an additional 193 shares during the period. OneDigital Investment Advisors LLC boosted its position in shares of Sysco by 2.7% in the third quarter. OneDigital Investment Advisors LLC now owns 21,359 shares of the company’s stock worth $1,667,000 after purchasing an additional 556 shares during the period. CIBC Asset Management Inc increased its stake in shares of Sysco by 5.5% in the third quarter. CIBC Asset Management Inc now owns 82,750 shares of the company’s stock worth $6,459,000 after purchasing an additional 4,306 shares in the last quarter. Atlanta Consulting Group Advisors LLC bought a new stake in shares of Sysco during the 3rd quarter valued at $292,000. Finally, Claro Advisors LLC bought a new position in Sysco in the 3rd quarter worth $250,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Up 2.1 %

Shares of SYY opened at $74.78 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The business has a fifty day moving average of $73.28 and a 200 day moving average of $75.49. The company has a market cap of $36.58 billion, a PE ratio of 19.22, a P/E/G ratio of 1.88 and a beta of 1.11. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the business posted $0.89 EPS. On average, sell-side analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio is currently 52.44%.

Insider Activity at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. This trade represents a 46.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on SYY shares. Truist Financial lowered their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Guggenheim reaffirmed a “buy” rating and set a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Wells Fargo & Company upped their target price on shares of Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Melius started coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. Finally, Barclays cut their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.77.

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.