Gryphon Financial Partners LLC Increases Position in Sysco Co. (NYSE:SYY)

Gryphon Financial Partners LLC raised its position in Sysco Co. (NYSE:SYYFree Report) by 55.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,817 shares of the company’s stock after purchasing an additional 1,710 shares during the period. Gryphon Financial Partners LLC’s holdings in Sysco were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Patrick M Sweeney & Associates Inc. purchased a new stake in shares of Sysco in the 4th quarter valued at approximately $201,000. Simmons Bank purchased a new position in shares of Sysco in the 4th quarter valued at $221,000. Charles Schwab Investment Management Inc. grew its position in shares of Sysco by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,798,311 shares of the company’s stock valued at $204,640,000 after buying an additional 59,371 shares during the last quarter. Apollon Wealth Management LLC grew its position in shares of Sysco by 0.9% in the 4th quarter. Apollon Wealth Management LLC now owns 23,124 shares of the company’s stock valued at $1,691,000 after buying an additional 196 shares during the last quarter. Finally, Maryland State Retirement & Pension System grew its position in shares of Sysco by 1.9% in the 4th quarter. Maryland State Retirement & Pension System now owns 39,494 shares of the company’s stock valued at $2,888,000 after buying an additional 739 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Up 1.6 %

SYY stock opened at $72.82 on Friday. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The stock has a market capitalization of $36.26 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.06 and a beta of 1.16. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34. The company has a fifty day moving average of $76.19 and a 200-day moving average of $76.38.

Sysco (NYSE:SYYGet Free Report) last released its earnings results on Tuesday, April 30th. The company reported $0.96 EPS 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 company had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter last year, the business earned $0.90 EPS. The business’s revenue was up 2.7% on a year-over-year basis. As a group, analysts expect that Sysco Co. will post 4.3 EPS for the current year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be paid a $0.51 dividend. This is a boost from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 annualized dividend and a dividend yield of 2.80%. Sysco’s dividend payout ratio (DPR) is 49.76%.

Insider Activity at Sysco

In related news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the sale, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on SYY. Barclays dropped their target price on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Truist Financial dropped their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. UBS Group dropped their target price on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Morgan Stanley dropped their target price on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $85.10.

Read Our Latest Stock Analysis on SYY

About Sysco

(Free Report)

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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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