Raiffeisen Bank International AG Makes New Investment in Sysco Co. (NYSE:SYY)

Raiffeisen Bank International AG bought a new position in Sysco Co. (NYSE:SYY) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 3,547 shares of the company’s stock, valued at approximately $271,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SYY. Parvin Asset Management LLC acquired a new stake in shares of Sysco during the 4th quarter worth about $29,000. Stonebridge Financial Group LLC acquired a new stake in shares of Sysco during the 4th quarter worth about $31,000. Sherman Asset Management Inc. acquired a new stake in shares of Sysco during the 4th quarter worth about $31,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Sysco during the 4th quarter worth about $31,000. Finally, SRS Capital Advisors Inc. increased its position 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 purchasing an additional 149 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Sysco

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

Sysco Price Performance

SYY stock opened at $72.34 on Monday. The company has a market capitalization of $35.07 billion, a P/E ratio of 18.60, a PEG ratio of 1.88 and a beta of 0.80. Sysco Co. has a twelve month low of $67.12 and a twelve month high of $82.23. The business has a 50 day simple moving average of $71.78 and a 200-day simple moving average of $74.03. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last posted 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). The firm had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. Sysco’s revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 earnings per share. As a group, equities analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Thursday, July 3rd. This is a boost from Sysco’s previous quarterly dividend of $0.51. Sysco’s dividend payout ratio is 55.96%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Guggenheim reaffirmed a “buy” rating and issued a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. UBS Group dropped their target price on Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Truist Financial dropped their target price on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Barclays dropped their target price on Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company dropped their target price on Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average target price of $83.38.

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.