Curi Wealth Management LLC Invests $9.63 Million in Sysco Co. (NYSE:SYY)

Curi Wealth Management LLC purchased a new position in shares of Sysco Co. (NYSE:SYYFree Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 131,700 shares of the company’s stock, valued at approximately $9,631,000. Sysco accounts for about 1.3% of Curi Wealth Management LLC’s investment portfolio, making the stock its 25th biggest position.

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

Sysco Stock Up 0.4 %

Shares of NYSE:SYY traded up $0.33 during midday trading on Tuesday, hitting $75.89. 2,247,287 shares of the stock were exchanged, compared to its average volume of 2,936,761. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The business’s fifty day simple moving average is $78.05 and its two-hundred day simple moving average is $75.73. The company has a market capitalization of $37.79 billion, a PE ratio of 18.52, a P/E/G ratio of 2.05 and a beta of 1.16.

Sysco (NYSE:SYYGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $19.74 billion. During the same period last year, the company earned $0.90 earnings per share. Sysco’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, research analysts predict that Sysco Co. will post 4.31 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.69%. This is an increase 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 is presently 48.78%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SYY. Piper Sandler decreased their price target on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. BMO Capital Markets raised their price objective on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. UBS Group reduced their price objective on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. JPMorgan Chase & Co. raised their price objective on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Finally, Barclays raised their price objective on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.56.

Read Our Latest Research Report on SYY

Insiders Place Their Bets

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

Sysco Profile

(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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