Bryce Point Capital LLC Buys Shares of 10,439 Sysco Co. (NYSE:SYY)

Bryce Point Capital LLC purchased a new position in shares of Sysco Co. (NYSE:SYY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,439 shares of the company’s stock, valued at approximately $798,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Sysco by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company’s stock valued at $4,703,775,000 after acquiring an additional 429,711 shares during the period. State Street Corp lifted its position in shares of Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after purchasing an additional 2,721,449 shares in the last quarter. Boston Partners boosted its stake in shares of Sysco by 143.7% in the fourth quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after purchasing an additional 7,184,754 shares during the period. Geode Capital Management LLC grew its holdings in shares of Sysco by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company’s stock valued at $905,120,000 after purchasing an additional 233,885 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in Sysco by 7.8% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 7,206,978 shares of the company’s stock worth $551,046,000 after buying an additional 521,431 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on SYY. Wells Fargo & Company raised their price target on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Morgan Stanley decreased their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Truist Financial cut their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Stock Performance

Shares of Sysco stock opened at $75.28 on Thursday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.23. The firm’s 50 day moving average is $73.11 and its two-hundred day moving average is $75.10. The firm has a market capitalization of $36.83 billion, a P/E ratio of 19.35, a P/E/G ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter last year, the company posted $0.89 EPS. Research analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be given a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.71%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

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.