MML Investors Services LLC Increases Stock Holdings in Sysco Co. (NYSE:SYY)

MML Investors Services LLC grew its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,568 shares of the company's stock after acquiring an additional 5,594 shares during the quarter. MML Investors Services LLC's holdings in Sysco were worth $4,325,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Stonebridge Financial Group LLC bought a new position in Sysco during the 4th quarter worth approximately $31,000. Sherman Asset Management Inc. bought a new position in shares of Sysco in the fourth quarter worth approximately $31,000. Flagship Wealth Advisors LLC purchased a new position in shares of Sysco in the fourth quarter worth $31,000. SRS Capital Advisors Inc. raised its holdings in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after buying an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC boosted its position in Sysco by 107.4% during the 4th 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 period. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Down 0.4 %

Shares of SYY stock traded down $0.25 during mid-day trading on Tuesday, hitting $70.17. 5,940,198 shares of the stock traded hands, compared to its average volume of 3,379,148. The stock has a market cap of $34.33 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.88 and a beta of 0.91. The stock's fifty day moving average is $72.79 and its two-hundred day moving average is $74.41. Sysco Co. has a 52-week low of $66.14 and a 52-week high of $82.23. 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 (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a net margin of 2.40% and a return on equity of 106.30%. The firm had revenue of $19.60 billion for the quarter, compared to analysts' expectations of $20.11 billion. During the same period in the previous year, the company posted $0.96 earnings per share. The business's quarterly revenue was up 1.1% compared to the same quarter last year. Equities analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 annualized dividend and a dividend yield of 3.08%. This is an increase from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio is 55.53%.

Analyst Ratings Changes

A number of brokerages recently commented on SYY. Guggenheim restated a "buy" rating and set a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. Truist Financial dropped their target price on shares of Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. UBS Group reduced their price target 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. Wells Fargo & Company raised their price objective on shares of Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, Barclays upped their target price on Sysco from $85.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Sysco has an average rating of "Moderate Buy" and an average target price of $85.07.

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.