Mather Group LLC. Increases Holdings in Sysco Co. (NYSE:SYY)

Mather Group LLC. grew its holdings in shares of Sysco Co. (NYSE:SYY) by 7.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,610 shares of the company’s stock after buying an additional 470 shares during the quarter. Mather Group LLC.’s holdings in Sysco were worth $483,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. AdvisorNet Financial Inc raised its position in shares of Sysco by 74.0% during the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after buying an additional 159 shares in the last quarter. Hexagon Capital Partners LLC raised its position in Sysco by 74.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock worth $28,000 after purchasing an additional 179 shares during the period. Headlands Technologies LLC purchased a new stake in Sysco in the 4th quarter worth about $34,000. BluePath Capital Management LLC purchased a new stake in Sysco in the 3rd quarter worth about $38,000. Finally, Milestone Investment Advisors LLC purchased a new stake in Sysco in the 3rd quarter worth about $40,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SYY shares. Piper Sandler reduced their price objective on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. BMO Capital Markets upped 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. Stephens upped 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. Finally, JPMorgan Chase & Co. upped 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. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Sysco presently has an average rating of “Moderate Buy” and an average target price of $84.90.

Insider Activity at Sysco

In related news, CAO Neil Russell sold 1,722 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at $1,926,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

Sysco Price Performance

NYSE SYY opened at $73.04 on Thursday. 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 firm’s 50 day moving average price is $78.89 and its 200-day moving average price is $75.09. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The company has a market cap of $36.36 billion, a PE ratio of 17.81, a P/E/G ratio of 1.50 and a beta of 1.16.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The company had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. Sysco’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that Sysco Co. will post 4.33 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be given a dividend of $0.51 per share. This is a boost from Sysco’s previous quarterly dividend of $0.50. 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 2.79%. Sysco’s dividend payout ratio is presently 48.78%.

Sysco 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.