Sysco Co. (NYSE:SYY) Stake Increased by Modera Wealth Management LLC

Modera Wealth Management LLC boosted its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 4.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,180 shares of the company's stock after acquiring an additional 4,501 shares during the quarter. Modera Wealth Management LLC's holdings in Sysco were worth $7,889,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SYY. Fortem Financial Group LLC raised its holdings in shares of Sysco by 3.6% in the 4th quarter. Fortem Financial Group LLC now owns 3,875 shares of the company's stock valued at $296,000 after buying an additional 136 shares during the period. SRS Capital Advisors Inc. grew its holdings in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after acquiring an additional 149 shares in the last quarter. S.A. Mason LLC increased its holdings in Sysco by 10.7% in the fourth quarter. S.A. Mason LLC now owns 1,546 shares of the company's stock valued at $118,000 after buying an additional 150 shares during the last quarter. Cable Hill Partners LLC lifted its stake in Sysco by 3.9% during the third quarter. Cable Hill Partners LLC now owns 4,049 shares of the company's stock worth $316,000 after purchasing an additional 152 shares during the last quarter. Finally, Brooklyn Investment Group raised its stake in Sysco by 12.3% during the 4th quarter. Brooklyn Investment Group now owns 1,410 shares of the company's stock worth $108,000 after acquiring an additional 154 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Barclays reduced their target price on Sysco from $93.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Truist Financial lowered their target price on shares of Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Melius started coverage on shares of Sysco in a research note on Wednesday, December 18th. They set a "hold" rating and a $85.00 price target for the company. UBS Group lowered their price objective on shares of Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company increased their target price on shares of Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $84.77.

Sysco Price Performance

Shares of NYSE SYY traded down $0.44 during trading on Wednesday, reaching $74.48. The company had a trading volume of 3,359,389 shares, compared to its average volume of 3,099,142. The stock has a 50-day moving average price of $73.58 and a two-hundred day moving average price of $75.63. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The stock has a market capitalization of $36.44 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $0.93 EPS 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 company earned $0.89 earnings per share. As a group, sell-side 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. 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 2.74%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's dividend payout ratio is currently 52.44%.

Insider Transactions at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.54% of the company's stock.

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.