Sysco Co. (NYSE:SYY) Shares Purchased by Act Two Investors LLC

Act Two Investors LLC boosted its holdings in Sysco Co. (NYSE:SYY) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 245,682 shares of the company’s stock after purchasing an additional 26,842 shares during the quarter. Sysco makes up about 3.9% of Act Two Investors LLC’s investment portfolio, making the stock its 12th largest holding. Act Two Investors LLC’s holdings in Sysco were worth $17,967,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. First United Bank & Trust bought a new stake in Sysco in the fourth quarter valued at $26,000. AdvisorNet Financial Inc lifted 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 buying an additional 159 shares during the last quarter. Headlands Technologies LLC bought a new stake in Sysco in the fourth quarter valued at $34,000. JFS Wealth Advisors LLC lifted its stake in Sysco by 39.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $37,000 after buying an additional 141 shares during the last quarter. Finally, Milestone Investment Advisors LLC bought a new stake in Sysco in the third quarter valued at $40,000. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SYY. JPMorgan Chase & Co. cut their target price on Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday. Truist Financial cut their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. UBS Group cut their price objective on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Barclays cut their price objective on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Piper Sandler cut their price objective on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Two research 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.11.

Insider Buying and Selling

In related news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is currently owned by company insiders.

Sysco Price Performance

Sysco stock traded up $0.08 during midday trading on Friday, hitting $72.95. The company’s stock had a trading volume of 2,249,342 shares, compared to its average volume of 3,259,305. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77. The stock’s 50-day moving average price is $77.09 and its 200-day moving average price is $76.21. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The company has a market capitalization of $36.33 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.94 and a beta of 1.16.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The firm had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $19.74 billion. During the same period in the previous year, the business earned $0.90 earnings per share. Sysco’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts anticipate that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be paid a $0.51 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a yield of 2.80%. This is a boost from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio (DPR) is currently 48.78%.

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.