Tucker Asset Management LLC Buys 7,799 Shares of Sysco Corporation $SYY

Tucker Asset Management LLC bought a new stake in shares of Sysco Corporation (NYSE:SYY) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,799 shares of the company’s stock, valued at approximately $608,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC boosted its holdings in Sysco by 718.6% in the third quarter. Salomon & Ludwin LLC now owns 352 shares of the company’s stock worth $27,000 after acquiring an additional 309 shares in the last quarter. Sicart Associates LLC grew its stake in shares of Sysco by 2.2% during the third quarter. Sicart Associates LLC now owns 116,969 shares of the company’s stock worth $9,617,000 after acquiring an additional 2,553 shares during the last quarter. Woodmont Investment Counsel LLC increased its holdings in shares of Sysco by 5.7% during the third quarter. Woodmont Investment Counsel LLC now owns 5,003 shares of the company’s stock valued at $390,000 after acquiring an additional 269 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Sysco during the third quarter valued at about $15,920,000. Finally, Vise Technologies Inc. increased its holdings in shares of Sysco by 367.2% during the third quarter. Vise Technologies Inc. now owns 101,610 shares of the company’s stock valued at $7,922,000 after acquiring an additional 79,860 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Stock Down 1.4%

Sysco stock opened at $81.76 on Tuesday. The company has a debt-to-equity ratio of 4.62, a quick ratio of 0.77 and a current ratio of 1.28. The business’s 50-day simple moving average is $80.49 and its two-hundred day simple moving average is $80.54. The company has a market cap of $40.22 billion, a PE ratio of 22.34, a PEG ratio of 2.31 and a beta of 0.64. Sysco Corporation has a fifty-two week low of $68.19 and a fifty-two week high of $91.85.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. Sysco had a return on equity of 95.05% and a net margin of 2.08%. The business had revenue of $22.12 billion for the quarter, compared to analyst estimates of $21.95 billion. During the same period in the prior year, the company earned $1.48 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. Equities analysts anticipate that Sysco Corporation will post 5.09 EPS for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Friday, October 2nd were given a $0.55 dividend. The ex-dividend date was Friday, October 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 2.7%. Sysco’s dividend payout ratio is currently 60.11%.

Insider Buying and Selling

In related news, EVP Ronald Phillips sold 960 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $83.00, for a total value of $79,680.00. Following the transaction, the executive vice president owned 49,852 shares in the company, valued at approximately $4,137,716. This represents a 1.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 15,525 shares of company stock valued at $1,299,736 in the last 90 days. 0.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on SYY shares. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Piper Sandler boosted their target price on shares of Sysco from $77.00 to $84.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Citigroup restated a “neutral” rating on shares of Sysco in a research note on Monday, October 26th. JPMorgan Chase & Co. cut their price target on shares of Sysco from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 29th. Finally, Weiss Ratings raised shares of Sysco from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 15th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.42.

Sysco Company Profile

Sysco Corporation is a global foodservice distribution company headquartered in Houston, Texas. It supplies food and related products to restaurants, healthcare and educational institutions, hotels, government facilities, and other foodservice operators.

The company distributes a broad range of products, including fresh and frozen foods, meat and seafood, produce, dairy products, canned and packaged goods, beverages, and specialty food items. Sysco also provides nonfood products such as kitchen and dining supplies, equipment, and cleaning products, along with services intended to help customers manage menus, procurement, and operations.

Founded in 1969, Sysco serves customers primarily across the United States and Canada, as well as in parts of Europe and other international markets.