Forum Financial Management LP Raises Holdings in Sysco Co. (NYSE:SYY)

Forum Financial Management LP boosted its holdings in Sysco Co. (NYSE:SYY) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,614 shares of the company’s stock after acquiring an additional 1,017 shares during the quarter. Forum Financial Management LP’s holdings in Sysco were worth $3,717,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SYY. Barclays PLC raised its position in Sysco by 43.2% in the third quarter. Barclays PLC now owns 1,715,356 shares of the company’s stock worth $133,902,000 after acquiring an additional 517,219 shares in the last quarter. Atomi Financial Group Inc. increased its holdings in shares of Sysco by 5.0% during the 4th quarter. Atomi Financial Group Inc. now owns 5,438 shares of the company’s stock valued at $416,000 after acquiring an additional 259 shares during the last quarter. Beaumont Financial Advisors LLC increased its holdings in Sysco by 11.2% during the 4th quarter. Beaumont Financial Advisors LLC now owns 3,383 shares of the company’s stock valued at $259,000 after purchasing an additional 340 shares in the last quarter. Simon Quick Advisors LLC increased its stake in shares of Sysco by 30.1% in the 4th quarter. Simon Quick Advisors LLC now owns 5,055 shares of the company’s stock valued at $387,000 after buying an additional 1,170 shares during the period. Finally, Dakota Wealth Management increased its stake in shares of Sysco by 1.9% in the 4th quarter. Dakota Wealth Management now owns 24,496 shares of the company’s stock valued at $1,873,000 after buying an additional 459 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Sheila Talton sold 356 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the transaction, the director now owns 12,738 shares of the company’s stock, valued at approximately $902,359.92. This represents a 2.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SYY shares. Guggenheim restated a “buy” rating and set a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Wells Fargo & Company dropped their price target on Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Wall Street Zen downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Truist Financial cut their target price on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Morgan Stanley cut their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Sysco Trading Down 0.6%

NYSE:SYY opened at $71.51 on Friday. The company has a market cap of $34.67 billion, a P/E ratio of 18.38, 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 stock’s fifty day moving average price is $71.65 and its two-hundred day moving average price is $73.95. 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 posted its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). Sysco had a return on equity of 106.30% and a net margin of 2.40%. The firm had revenue of $19.60 billion for the quarter, compared to analysts’ expectations of $20.11 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a $0.54 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 annualized dividend and a yield of 3.02%. This is an increase from Sysco’s previous quarterly dividend of $0.51. Sysco’s dividend payout ratio is currently 55.96%.

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.