Harbour Investments Inc. Grows Holdings in Sysco Co. (NYSE:SYY)

Harbour Investments Inc. grew its stake in shares of Sysco Co. (NYSE:SYY) by 5.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,801 shares of the company’s stock after purchasing an additional 382 shares during the quarter. Harbour Investments Inc.’s holdings in Sysco were worth $596,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Stonebridge Financial Group LLC purchased a new stake in Sysco in the 4th quarter valued at about $31,000. Sherman Asset Management Inc. purchased a new stake in shares of Sysco in the fourth quarter valued at approximately $31,000. SRS Capital Advisors Inc. grew its stake in Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after purchasing an additional 149 shares in the last quarter. HHM Wealth Advisors LLC increased its holdings in Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after purchasing an additional 321 shares during the period. Finally, Hager Investment Management Services LLC purchased a new position in Sysco during the 4th quarter worth $50,000. 83.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction dated Thursday, January 2nd. The stock was 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 of the company’s stock, valued at $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.54% of the company’s stock.

Sysco Stock Performance

SYY opened at $71.12 on Friday. The company has a market cap of $34.79 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. 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 firm’s 50-day moving average price is $73.15 and its 200-day moving average price is $75.41. 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 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter last year, the business posted $0.89 EPS. As a group, equities analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. Sysco’s dividend payout ratio is currently 52.44%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their price target on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Truist Financial cut their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Jefferies Financial Group upped their price target on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Barclays cut their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Finally, Guggenheim restated a “buy” rating and set a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.