SVB Wealth LLC Has $2.02 Million Stock Holdings in Sysco Co. (NYSE:SYY)

SVB Wealth LLC grew its holdings in shares of Sysco Co. (NYSE:SYY) by 34.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,566 shares of the company’s stock after buying an additional 7,102 shares during the quarter. SVB Wealth LLC’s holdings in Sysco were worth $2,016,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. AdvisorNet Financial Inc raised its holdings in shares of Sysco by 74.0% in the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in Sysco by 74.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock valued at $28,000 after purchasing an additional 179 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of Sysco during the 1st quarter valued at $32,000. Tyler Stone Wealth Management purchased a new stake in shares of Sysco during the 2nd quarter valued at $37,000. Finally, MayTech Global Investments LLC bought a new stake in shares of Sysco during the 4th quarter worth $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SYY shares. Stephens increased their target price on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. BMO Capital Markets boosted their target price on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Barclays increased their price target on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. upped their price objective on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.38.

Insider Transactions at Sysco

In related news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the transaction, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.58% of the company’s stock.

Sysco Price Performance

Sysco stock opened at $75.44 on Thursday. The stock has a market cap of $37.56 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.55 and a beta of 1.15. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. The business has a 50-day simple moving average of $79.52 and a 200 day simple moving average of $74.23. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $19.29 billion during the quarter, compared to analysts’ expectations of $19.32 billion. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.80 EPS. On average, research analysts forecast that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, April 4th. Sysco’s dividend payout ratio (DPR) is currently 48.90%.

Sysco Company 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.