Allstate Corp Makes New $1.12 Million Investment in Sysco Co. (NYSE:SYY)

Allstate Corp purchased a new stake in Sysco Co. (NYSE:SYY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 14,695 shares of the company's stock, valued at approximately $1,124,000.

A number of other institutional investors have also made changes to their positions in the business. Fortem Financial Group LLC increased its position in Sysco by 3.6% in the 4th quarter. Fortem Financial Group LLC now owns 3,875 shares of the company's stock worth $296,000 after buying an additional 136 shares during the period. Morton Community Bank lifted its holdings in shares of Sysco by 0.4% during the fourth quarter. Morton Community Bank now owns 40,585 shares of the company's stock valued at $3,103,000 after acquiring an additional 145 shares during the period. SRS Capital Advisors Inc. boosted its stake in shares of Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after purchasing an additional 149 shares in the last quarter. FineMark National Bank & Trust grew its holdings in shares of Sysco by 1.8% in the 4th quarter. FineMark National Bank & Trust now owns 8,580 shares of the company's stock worth $656,000 after purchasing an additional 149 shares during the last quarter. Finally, S.A. Mason LLC increased its position in shares of Sysco by 10.7% during the 4th quarter. S.A. Mason LLC now owns 1,546 shares of the company's stock worth $118,000 after purchasing an additional 150 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Truist Financial dropped their price objective on shares of Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company increased their target price on Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Melius initiated coverage on shares of Sysco in a report on Wednesday, December 18th. They set a "hold" rating and a $85.00 price objective on the stock. Melius Research upgraded shares of Sysco to a "hold" rating in a research report on Wednesday, December 18th. Finally, Guggenheim restated a "buy" rating and issued a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $84.77.

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Sysco Stock Up 0.4 %

Shares of NYSE:SYY traded up $0.30 during midday trading on Thursday, reaching $75.60. 2,276,843 shares of the company were exchanged, compared to its average volume of 3,278,383. The firm has a market cap of $36.98 billion, a PE ratio of 19.46, a P/E/G ratio of 1.88 and a beta of 1.11. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.23. The stock has a fifty day simple moving average of $73.11 and a two-hundred day simple moving average of $75.10.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the prior year, the firm earned $0.89 earnings per share. As a group, sell-side analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.70%. Sysco's dividend payout ratio is 52.44%.

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.