Berkeley Capital Partners LLC Makes New Investment in Sysco Co. (NYSE:SYY)

Berkeley Capital Partners LLC bought a new stake in shares of Sysco Co. (NYSE:SYY - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 17,275 shares of the company's stock, valued at approximately $1,321,000.

Several other hedge funds also recently bought and sold shares of SYY. Stonebridge Financial Group LLC acquired a new stake in shares of Sysco during the fourth quarter valued at $31,000. Sherman Asset Management Inc. purchased a new position in Sysco in the 4th quarter valued at about $31,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Sysco during the 4th quarter worth about $31,000. SRS Capital Advisors Inc. grew its holdings in shares of Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after buying an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC raised its position in shares of Sysco by 107.4% in the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock valued at $47,000 after buying an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Analyst Ratings Changes

SYY has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Guggenheim reaffirmed a "buy" rating and issued a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. Morgan Stanley dropped their target price on Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 29th. UBS Group decreased their price target on Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Finally, 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 research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.77.

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Insider Activity

In related news, EVP Greg D. Bertrand sold 48,027 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the transaction, the executive vice president now directly owns 56,304 shares of the company's stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.54% of the company's stock.

Sysco Trading Up 0.4 %

NYSE SYY traded up $0.31 during mid-day trading on Monday, hitting $71.42. The company's stock had a trading volume of 2,659,102 shares, compared to its average volume of 3,135,175. The firm has a market capitalization of $34.94 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33. The stock's fifty day simple moving average is $73.05 and its two-hundred day simple moving average is $75.26.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting analysts' consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the prior year, the firm posted $0.89 EPS. Research analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given 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 payout ratio is 52.44%.

About Sysco

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.