Atria Wealth Solutions Inc. Purchases 7,156 Shares of Sysco Co. (NYSE:SYY)

Atria Wealth Solutions Inc. boosted its position in Sysco Co. (NYSE:SYY) by 15.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,560 shares of the company’s stock after acquiring an additional 7,156 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Sysco were worth $3,844,000 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 increased its stake in 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 acquiring an additional 159 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in Sysco by 74.6% in the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock valued at $28,000 after acquiring an additional 179 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in Sysco in the third quarter valued at approximately $38,000. BKM Wealth Management LLC bought a new stake in shares of Sysco during the fourth quarter worth $42,000. Finally, Milestone Investment Advisors LLC bought a new stake in shares of Sysco during the third quarter worth $40,000. 83.41% of the stock is owned by institutional investors.

Sysco Stock Performance

Shares of Sysco stock opened at $77.07 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The stock has a market cap of $38.37 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 1.57 and a beta of 1.15. The company’s fifty day moving average is $79.16 and its 200 day moving average is $74.85.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The company had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.32 billion. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Sysco’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts forecast that Sysco Co. will post 4.33 EPS for the current year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a yield of 2.65%. This is a boost from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio is 48.90%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Barclays boosted their target price on shares of 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. boosted their target price on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Stephens boosted their target price on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. BMO Capital Markets boosted their target price on shares of Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and a consensus target price of $85.38.

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at $1,926,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

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.