Summit Trail Advisors LLC Has $705,000 Holdings in Sysco Co. (NYSE:SYY)

Summit Trail Advisors LLC boosted its stake in Sysco Co. (NYSE:SYY) by 8.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,642 shares of the company’s stock after buying an additional 759 shares during the quarter. Summit Trail Advisors LLC’s holdings in Sysco were worth $705,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc raised its position in Sysco by 74.0% in the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares during the last quarter. Headlands Technologies LLC bought a new stake in Sysco during the 4th quarter worth about $34,000. BluePath Capital Management LLC acquired a new position in shares of Sysco during the third quarter worth approximately $38,000. BKM Wealth Management LLC bought a new stake in shares of Sysco during the fourth quarter valued at approximately $42,000. Finally, Milestone Investment Advisors LLC bought a new position in Sysco in the 3rd quarter worth approximately $40,000. 83.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SYY. BMO Capital Markets boosted their target price on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Truist Financial reduced their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Piper Sandler dropped their price target on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. UBS Group lowered their target price on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lifted their price objective on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.56.

Sysco Stock Up 0.4 %

Shares of NYSE SYY traded up $0.30 during mid-day trading on Tuesday, reaching $75.78. 643,189 shares of the company’s stock were exchanged, compared to its average volume of 2,938,931. The business has a fifty day simple moving average of $78.55 and a 200 day simple moving average of $75.38. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. The firm has a market capitalization of $37.74 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 1.92 and a beta of 1.16.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. The company had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share. As a group, equities analysts expect that Sysco Co. will post 4.31 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, July 5th. This is an increase from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.69%. Sysco’s dividend payout ratio (DPR) is presently 48.78%.

Insider Buying and Selling at Sysco

In related 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 transaction of $137,760.00. Following the completion of the transaction, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.58% of the company’s stock.

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.