BI Asset Management Fondsmaeglerselskab A S Buys 86,839 Shares of Sysco Co. (NYSE:SYY)

BI Asset Management Fondsmaeglerselskab A S grew its position in Sysco Co. (NYSE:SYY - Free Report) by 83.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 190,825 shares of the company's stock after purchasing an additional 86,839 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Sysco were worth $14,590,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several research firms recently commented on SYY. UBS Group decreased their price target on shares of Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Truist Financial decreased 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. Morgan Stanley cut their price target 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. Barclays raised their price objective on Sysco from $85.00 to $87.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Guggenheim reiterated a "buy" rating and set a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $84.92.

Sysco Trading Down 0.5 %

Shares of NYSE SYY traded down $0.38 during trading on Thursday, reaching $72.51. The company had a trading volume of 2,649,191 shares, compared to its average volume of 3,345,203. Sysco Co. has a 12 month low of $67.12 and a 12 month high of $82.23. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The stock has a market cap of $35.47 billion, a P/E ratio of 18.64, a PEG ratio of 1.88 and a beta of 0.91. The company's fifty day moving average price is $72.75 and its 200-day moving average price is $74.48.

Sysco (NYSE:SYY - Get Free Report) last announced 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 in the previous year, the firm earned $0.89 EPS. As a group, research analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.98%. This is a boost from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio is 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.