Voleon Capital Management LP Buys Shares of 4,482 Sysco Co. (NYSE:SYY)

Voleon Capital Management LP bought a new stake in Sysco Co. (NYSE:SYY) in the fourth quarter, Holdings Channel reports. The fund bought 4,482 shares of the company’s stock, valued at approximately $343,000.

Other large investors have also recently bought and sold shares of the company. Fortem Financial Group LLC increased its stake in shares of Sysco by 3.6% during the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock valued at $296,000 after acquiring an additional 136 shares during the period. MV Capital Management Inc. increased its position in shares of Sysco by 0.4% during the 4th quarter. MV Capital Management Inc. now owns 34,330 shares of the company’s stock valued at $2,625,000 after purchasing an additional 144 shares during the period. Morton Community Bank raised its stake in shares of Sysco by 0.4% in the 4th quarter. Morton Community Bank now owns 40,585 shares of the company’s stock worth $3,103,000 after buying an additional 145 shares in the last quarter. Nemes Rush Group LLC lifted its holdings in shares of Sysco by 5.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company’s stock valued at $201,000 after buying an additional 147 shares during the period. Finally, SRS Capital Advisors Inc. boosted its stake in Sysco by 53.0% during 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 in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SYY shares. Wells Fargo & Company cut their price target on shares of Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday. Barclays reduced their target price on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a report on Wednesday. Truist Financial dropped their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. BMO Capital Markets reduced their price objective on Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.38.

Sysco Stock Performance

SYY stock opened at $70.14 on Friday. The stock has a market cap of $34.31 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.88 and a beta of 0.91. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The firm has a 50 day simple moving average of $72.66 and a 200 day simple moving average of $74.32. Sysco Co. has a 52 week low of $67.12 and a 52 week high of $82.23.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $20.11 billion. During the same period last year, the business earned $0.96 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis. Research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.08%. This is a positive change from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco’s payout ratio is currently 55.96%.

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.