Los Angeles Capital Management LLC Buys 1,264 Shares of Sysco Co. (NYSE:SYY)

Los Angeles Capital Management LLC grew its stake in shares of Sysco Co. (NYSE:SYY) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 201,557 shares of the company’s stock after acquiring an additional 1,264 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Sysco were worth $14,740,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SYY. AdvisorNet Financial Inc lifted its stake in shares of Sysco by 74.0% in the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after buying an additional 159 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Sysco during the 4th quarter valued at $34,000. BluePath Capital Management LLC bought a new stake in shares of Sysco in the 3rd quarter worth $38,000. BKM Wealth Management LLC purchased a new position in shares of Sysco in the fourth quarter worth $42,000. Finally, Milestone Investment Advisors LLC bought a new position in shares of Sysco during the third quarter valued at $40,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE SYY traded up $1.11 during midday trading on Friday, reaching $75.36. The stock had a trading volume of 2,709,679 shares, compared to its average volume of 2,778,819. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.80 and a current ratio of 1.34. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The stock has a 50-day moving average of $78.76 and a 200-day moving average of $75.09. The company has a market capitalization of $37.53 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 1.89 and a beta of 1.16.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The business had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $19.74 billion. During the same period last year, the firm earned $0.90 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, research analysts anticipate that Sysco Co. will post 4.31 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.71%. This is a boost from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, July 5th. Sysco’s dividend payout ratio (DPR) is presently 48.78%.

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the transaction, the chief accounting officer now owns 24,082 shares in the company, valued at approximately $1,926,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.58% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Piper Sandler decreased their target price on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday. Barclays increased their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Truist Financial decreased their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday. Stephens raised their price target on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Finally, JPMorgan Chase & Co. increased their target price on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average price target of $84.56.

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.