Obermeyer Wealth Partners Buys 323 Shares of Sysco Co. (NYSE:SYY)

Obermeyer Wealth Partners lifted its stake in shares of Sysco Co. (NYSE:SYY) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,544 shares of the company’s stock after acquiring an additional 323 shares during the period. Obermeyer Wealth Partners’ holdings in Sysco were worth $2,106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Parvin Asset Management LLC bought a new stake in Sysco in the 4th quarter valued at $29,000. Stonebridge Financial Group LLC acquired a new stake in shares of Sysco in the 4th quarter valued at $31,000. Sherman Asset Management Inc. acquired a new stake in shares of Sysco in the 4th quarter valued at approximately $31,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Sysco during the 4th quarter valued at $31,000. Finally, SRS Capital Advisors Inc. increased its stake in shares of Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after buying an additional 149 shares during the period. 83.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Truist Financial cut their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Barclays lowered their target price on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Guggenheim reiterated a “buy” rating and set a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. BMO Capital Markets dropped their price objective on Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company decreased their target price on Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.38.

Sysco Stock Up 1.6%

Shares of NYSE SYY opened at $71.91 on Tuesday. The stock has a market capitalization of $34.86 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.88 and a beta of 0.80. Sysco Co. has a 1 year low of $67.12 and a 1 year high of $82.23. The company has a 50-day moving average price of $72.11 and a 200-day moving average price of $74.12. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a net margin of 2.40% and a return on equity of 106.30%. The company had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same quarter last year, the business posted $0.96 earnings per share. Sysco’s revenue was up 1.1% on a year-over-year basis. On average, equities research analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, July 3rd. This is a positive change from Sysco’s previous quarterly dividend of $0.51. Sysco’s payout ratio is presently 55.96%.

Insider Activity

In other news, Director Sheila Talton sold 356 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the transaction, the director now directly owns 12,738 shares in the company, valued at $902,359.92. The trade was a 2.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.54% of the company’s stock.

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.