Naples Global Advisors LLC Invests $231,000 in Sysco Co. (NYSE:SYY)

Posted by on Mar 31st, 2023

Naples Global Advisors LLC purchased a new position in shares of Sysco Co. (NYSE:SYY – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,021 shares of the company’s stock, valued at approximately $231,000.

A number of other hedge funds also recently modified their holdings of SYY. Vontobel Holding Ltd. lifted its holdings in shares of Sysco by 166.0% during the first quarter. Vontobel Holding Ltd. now owns 16,127 shares of the company’s stock worth $1,338,000 after purchasing an additional 10,065 shares during the period. Sei Investments Co. raised its stake in Sysco by 6.9% during the first quarter. Sei Investments Co. now owns 258,746 shares of the company’s stock worth $21,068,000 after buying an additional 16,772 shares during the last quarter. Cetera Investment Advisers raised its stake in Sysco by 12.9% during the first quarter. Cetera Investment Advisers now owns 22,139 shares of the company’s stock worth $1,808,000 after buying an additional 2,522 shares during the last quarter. Baird Financial Group Inc. raised its stake in Sysco by 1.0% during the first quarter. Baird Financial Group Inc. now owns 659,712 shares of the company’s stock worth $53,865,000 after buying an additional 6,711 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in Sysco by 54.8% during the first quarter. Parkside Financial Bank & Trust now owns 833 shares of the company’s stock worth $68,000 after buying an additional 295 shares during the last quarter. Institutional investors and hedge funds own 81.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SYY. Stephens reissued an “overweight” rating and set a $90.00 target price on shares of Sysco in a research note on Tuesday. Argus downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research note on Thursday, February 2nd. Bank of America initiated coverage on shares of Sysco in a research note on Thursday, March 9th. They set a “buy” rating and a $90.00 target price for the company. JPMorgan Chase & Co. decreased their price target on shares of Sysco from $84.00 to $83.00 and set an “overweight” rating for the company in a research note on Tuesday, March 21st. Finally, Truist Financial decreased their price target on shares of Sysco from $92.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, February 1st. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.42.

Sysco Stock Down 0.6 %

Sysco stock opened at $76.94 on Friday. Sysco Co. has a fifty-two week low of $70.61 and a fifty-two week high of $91.53. The stock has a market cap of $39.05 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 1.48 and a beta of 1.10. The firm’s 50-day simple moving average is $76.35 and its 200 day simple moving average is $78.65. The company has a debt-to-equity ratio of 7.20, a quick ratio of 0.68 and a current ratio of 1.24.

Sysco (NYSE:SYY – Get Rating) last released its quarterly earnings results on Tuesday, January 31st. The company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.04). Sysco had a return on equity of 140.94% and a net margin of 1.93%. The firm had revenue of $18.59 billion for the quarter, compared to analysts’ expectations of $18.59 billion. During the same quarter last year, the firm posted $0.57 earnings per share. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. Research analysts predict that Sysco Co. will post 4.04 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Thursday, April 6th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.55%. The ex-dividend date is Wednesday, April 5th. Sysco’s dividend payout ratio (DPR) is presently 70.76%.

Sysco Profile

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Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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