Sysco Co. (NYSE:SYY) Shares Bought by Bessemer Group Inc.

Posted by on Jun 10th, 2023

Bessemer Group Inc. boosted its stake in shares of Sysco Co. (NYSE:SYY – Get Rating) by 30.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,438 shares of the company’s stock after buying an additional 4,767 shares during the quarter. Bessemer Group Inc.’s holdings in Sysco were worth $1,563,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Standard Family Office LLC purchased a new stake in shares of Sysco in the third quarter valued at about $25,000. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Sysco in the fourth quarter valued at about $27,000. General Partner Inc. purchased a new stake in shares of Sysco in the fourth quarter valued at about $31,000. MinichMacGregor Wealth Management LLC purchased a new stake in shares of Sysco in the fourth quarter valued at about $31,000. Finally, American National Bank lifted its holdings in shares of Sysco by 45.3% in the fourth quarter. American National Bank now owns 593 shares of the company’s stock valued at $45,000 after purchasing an additional 185 shares in the last quarter. 81.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SYY. TheStreet raised shares of Sysco from a “c+” rating to a “b” rating in a report on Tuesday, May 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 price objective on the stock. 51job reissued a “maintains” rating on shares of Sysco in a research note on Wednesday, May 3rd. Credit Suisse Group reduced their price objective on shares of Sysco from $94.00 to $88.00 in a research note on Wednesday, May 3rd. Finally, Stephens reissued an “overweight” rating and set a $90.00 price objective on shares of Sysco in a research note on Tuesday, March 28th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.27.

Sysco Stock Performance

NYSE:SYY opened at $72.54 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.51. The company has a market cap of $36.75 billion, a P/E ratio of 24.02, a P/E/G ratio of 1.40 and a beta of 1.11. Sysco Co. has a fifty-two week low of $69.22 and a fifty-two week high of $88.84. The firm’s 50 day moving average is $74.23 and its two-hundred day moving average is $76.93.

Sysco (NYSE:SYY – Get Rating) last released its quarterly earnings data on Tuesday, May 2nd. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). Sysco had a return on equity of 141.53% and a net margin of 2.05%. The business had revenue of $18.88 billion during the quarter, compared to analyst estimates of $18.56 billion. During the same period in the previous year, the company earned $0.71 EPS. Sysco’s revenue was up 11.7% on a year-over-year basis. Analysts expect that Sysco Co. will post 4 EPS for the current year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 7th will be given a $0.50 dividend. The ex-dividend date is Thursday, July 6th. This represents a $2.00 annualized dividend and a dividend yield of 2.76%. This is a positive change from Sysco’s previous quarterly dividend of $0.49. Sysco’s dividend payout ratio is presently 64.90%.

Sysco Profile

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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