Sysco Co. (NYSE:SYY) Shares Sold by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC lowered its position in shares of Sysco Co. (NYSE:SYY) by 54.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,025 shares of the company’s stock after selling 7,145 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Sysco were worth $461,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYY. Stonebridge Financial Group LLC purchased a new stake in shares of Sysco in the fourth quarter valued at $31,000. Sherman Asset Management Inc. purchased a new stake in Sysco in the 4th quarter valued at about $31,000. Flagship Wealth Advisors LLC acquired a new position in shares of Sysco during the 4th quarter valued at about $31,000. SRS Capital Advisors Inc. lifted its holdings in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after acquiring an additional 149 shares during the period. Finally, HHM Wealth Advisors LLC boosted its position in shares of Sysco by 107.4% in the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after acquiring an additional 321 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Performance

Sysco stock opened at $71.71 on Friday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The firm’s fifty day moving average price is $72.64 and its 200 day moving average price is $74.60. The company has a market capitalization of $35.08 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. Sysco Co. has a 12-month low of $67.12 and a 12-month high of $82.23.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the previous year, the business earned $0.89 EPS. On average, research analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The business 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 $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.84%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SYY shares. Guggenheim reaffirmed a “buy” rating and set a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Wells Fargo & Company lifted their target price on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. UBS Group cut their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Barclays decreased their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, Truist Financial cut their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $84.77.

About Sysco

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.