F M Investments LLC Buys 13,113 Shares of Sysco Co. (NYSE:SYY)

F M Investments LLC lifted its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 59.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,154 shares of the company's stock after purchasing an additional 13,113 shares during the period. F M Investments LLC's holdings in Sysco were worth $2,688,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Bessemer Group Inc. increased its holdings in Sysco by 44.7% during the 4th quarter. Bessemer Group Inc. now owns 9,196 shares of the company's stock worth $703,000 after acquiring an additional 2,839 shares during the period. APG Asset Management N.V. purchased a new stake in shares of Sysco during the fourth quarter worth about $19,818,000. Applied Finance Capital Management LLC purchased a new stake in Sysco in the fourth quarter worth $656,000. Sandhill Capital Partners LLC lifted its holdings in Sysco by 1.3% in the fourth quarter. Sandhill Capital Partners LLC now owns 49,850 shares of the company's stock worth $3,812,000 after buying an additional 637 shares during the period. Finally, FIL Ltd lifted its position in Sysco by 27.1% during the fourth quarter. FIL Ltd now owns 1,535,042 shares of the company's stock valued at $117,369,000 after buying an additional 326,852 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on SYY shares. Melius began coverage on Sysco in a research note on Wednesday, December 18th. They issued a "hold" rating and a $85.00 price target for the company. Wells Fargo & Company upped their price objective on Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Truist Financial cut their target price 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. Morgan Stanley decreased their price objective on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 29th. Finally, Guggenheim reissued a "buy" rating and issued a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Sysco has an average rating of "Moderate Buy" and a consensus price target of $84.77.

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Sysco Stock Up 0.4 %

Shares of SYY stock traded up $0.32 during mid-day trading on Wednesday, reaching $71.60. 789,653 shares of the company were exchanged, compared to its average volume of 3,318,880. The business's 50 day simple moving average is $72.62 and its 200 day simple moving average is $74.67. Sysco Co. has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The company has a market capitalization of $35.03 billion, a P/E ratio of 18.41, a P/E/G 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 (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the business earned $0.89 earnings per share. Research analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's dividend payout ratio is currently 52.44%.

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.