Charles Schwab Investment Management Inc. Has $204.64 Million Holdings in Sysco Co. (NYSE:SYY)

Charles Schwab Investment Management Inc. raised its stake in shares of Sysco Co. (NYSE:SYY) by 2.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,798,311 shares of the company’s stock after purchasing an additional 59,371 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.55% of Sysco worth $204,640,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SYY. Wealthfront Advisers LLC raised its stake in shares of Sysco by 263.4% in the 3rd quarter. Wealthfront Advisers LLC now owns 34,007 shares of the company’s stock valued at $2,246,000 after buying an additional 24,650 shares in the last quarter. Professional Advisory Services Inc. acquired a new position in shares of Sysco in the 4th quarter valued at $20,057,000. Harbour Trust & Investment Management Co acquired a new position in shares of Sysco in the 4th quarter valued at $4,623,000. Pacer Advisors Inc. raised its stake in shares of Sysco by 40.1% in the 4th quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock valued at $6,014,000 after buying an additional 23,558 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Sysco by 16.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock valued at $21,865,000 after buying an additional 41,618 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Down 1.6 %

Shares of NYSE SYY opened at $74.62 on Thursday. The firm has a market capitalization of $37.16 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 1.92 and a beta of 1.16. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The firm’s 50-day moving average is $78.44 and its 200-day moving average is $75.45.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The business had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same quarter last year, the firm earned $0.90 EPS. Sysco’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities analysts expect that Sysco Co. will post 4.31 EPS for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a yield of 2.73%. This is a positive change from Sysco’s previous quarterly dividend of $0.50. Sysco’s payout ratio is presently 49.76%.

Insider Buying and Selling at Sysco

In other news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the sale, the chief accounting officer now directly owns 24,082 shares in the company, valued at $1,926,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SYY. Stephens increased their target price on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Barclays raised 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 lowered their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Finally, BMO Capital Markets raised their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.56.

Sysco Company 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.