Belpointe Asset Management LLC Boosts Stake in Sysco Co. (NYSE:SYY)

Belpointe Asset Management LLC boosted its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 166.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,733 shares of the company's stock after purchasing an additional 7,330 shares during the period. Belpointe Asset Management LLC's holdings in Sysco were worth $915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Buckley Wealth Management LLC increased its stake in shares of Sysco by 0.8% during the fourth quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company's stock worth $1,391,000 after purchasing an additional 150 shares in the last quarter. WR Wealth Planners LLC raised its holdings in shares of Sysco by 9.9% during the fourth quarter. WR Wealth Planners LLC now owns 4,270 shares of the company's stock valued at $326,000 after acquiring an additional 386 shares during the last quarter. Clark & Stuart Inc purchased a new position in shares of Sysco in the fourth quarter valued at approximately $7,613,000. Boston Trust Walden Corp boosted its stake in shares of Sysco by 179.5% in the fourth quarter. Boston Trust Walden Corp now owns 804,345 shares of the company's stock worth $61,500,000 after acquiring an additional 516,585 shares during the last quarter. Finally, Lmcg Investments LLC purchased a new stake in shares of Sysco during the fourth quarter worth approximately $3,668,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of recent research reports. StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Truist Financial cut their price target on Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. UBS Group reduced their price target on Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price target on shares of Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $85.00 price target on shares of Sysco in a research note 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $84.77.

Sysco Stock Performance

NYSE SYY traded down $0.50 during trading hours on Monday, hitting $71.24. The company had a trading volume of 455,782 shares, compared to its average volume of 3,328,507. The business has a 50 day moving average of $72.67 and a 200-day moving average of $74.53. The company has a market cap of $34.85 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a 1-year low of $67.12 and a 1-year high of $82.23.

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

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Friday, April 4th. Sysco's dividend payout ratio (DPR) is presently 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.