Jones Financial Companies Lllp Has $3.57 Million Position in Sysco Co. (NYSE:SYY)

Jones Financial Companies Lllp increased its position in Sysco Co. (NYSE:SYY) by 45.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,692 shares of the company’s stock after buying an additional 14,568 shares during the period. Jones Financial Companies Lllp’s holdings in Sysco were worth $3,570,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SYY. Farther Finance Advisors LLC increased its holdings in Sysco by 10.6% in the third quarter. Farther Finance Advisors LLC now owns 3,544 shares of the company’s stock worth $277,000 after buying an additional 340 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in Sysco by 3.7% during the third quarter. Chicago Partners Investment Group LLC now owns 8,633 shares of the company’s stock valued at $644,000 after purchasing an additional 310 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in Sysco during the third quarter valued at approximately $62,000. Confluence Wealth Services Inc. acquired a new position in Sysco during the third quarter valued at approximately $241,000. Finally, Van ECK Associates Corp grew its holdings in Sysco by 2.7% during the third quarter. Van ECK Associates Corp now owns 155,272 shares of the company’s stock valued at $11,588,000 after purchasing an additional 4,088 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Buying and Selling

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SYY shares. Truist Financial lowered their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. 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 note on Wednesday, January 29th. Barclays reduced their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company raised their target price on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. reduced their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Four investment 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Stock Performance

Shares of NYSE SYY opened at $74.90 on Wednesday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The stock’s fifty day moving average price is $73.58 and its two-hundred day moving average price is $75.63. Sysco Co. has a one year low of $69.03 and a one year high of $82.33. The firm has a market cap of $36.64 billion, a price-to-earnings ratio of 19.25, a P/E/G ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates 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 business posted $0.89 EPS. On average, equities analysts forecast that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.72%. Sysco’s payout ratio is 52.44%.

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.