New York Life Investment Management LLC Has $5.78 Million Holdings in Sysco Co. (NYSE:SYY)

New York Life Investment Management LLC boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 0.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,056 shares of the company’s stock after acquiring an additional 388 shares during the quarter. New York Life Investment Management LLC’s holdings in Sysco were worth $5,781,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SYY. Essex Financial Services Inc. lifted its holdings in shares of Sysco by 3.3% during the fourth quarter. Essex Financial Services Inc. now owns 7,578 shares of the company’s stock worth $554,000 after buying an additional 244 shares during the last quarter. Cannell & Co. boosted its holdings in Sysco by 20.4% in the fourth quarter. Cannell & Co. now owns 206,834 shares of the company’s stock valued at $15,126,000 after acquiring an additional 35,089 shares during the last quarter. Waycross Partners LLC lifted its stake in Sysco by 3.6% in the fourth quarter. Waycross Partners LLC now owns 131,701 shares of the company’s stock valued at $9,631,000 after buying an additional 4,565 shares during the period. Savant Capital LLC lifted its stake in Sysco by 10.2% in the fourth quarter. Savant Capital LLC now owns 17,894 shares of the company’s stock valued at $1,309,000 after buying an additional 1,649 shares during the period. Finally, Brighton Jones LLC lifted its stake in Sysco by 0.9% in the fourth quarter. Brighton Jones LLC now owns 119,303 shares of the company’s stock valued at $8,725,000 after buying an additional 1,067 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Up 1.5 %

NYSE:SYY opened at $75.36 on Friday. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.80 and a current ratio of 1.34. The company has a market cap of $37.53 billion, a PE ratio of 18.38, a PEG ratio of 1.89 and a beta of 1.16. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The stock has a 50-day simple moving average of $78.76 and a 200 day simple moving average of $75.09.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $19.38 billion during the quarter, compared to the consensus estimate of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.90 earnings per share. On average, sell-side analysts expect that Sysco Co. will post 4.31 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.71%. This is an increase from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio (DPR) is currently 48.78%.

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,082 shares in the company, valued at $1,926,560. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of research analyst reports. BMO Capital Markets raised their price target on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Truist Financial dropped their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday. UBS Group dropped their price target on Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Finally, Stephens raised their price target on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average price target of $84.56.

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.