Thrivent Financial for Lutherans Buys 236,504 Shares of Sysco Co. (NYSE:SYY)

Thrivent Financial for Lutherans grew its position in shares of Sysco Co. (NYSE:SYY) by 14.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,824,885 shares of the company’s stock after purchasing an additional 236,504 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Sysco were worth $139,536,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYY. New England Asset Management Inc. lifted its holdings in Sysco by 12.7% in the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after buying an additional 14,810 shares during the period. Buckley Wealth Management LLC lifted its stake in shares of Sysco by 0.8% in the 4th quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock valued at $1,391,000 after purchasing an additional 150 shares during the period. WR Wealth Planners LLC boosted its position in shares of Sysco by 9.9% during the 4th quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock valued at $326,000 after purchasing an additional 386 shares in the last quarter. Captrust Financial Advisors grew its stake in Sysco by 7.7% during the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after purchasing an additional 8,891 shares during the period. Finally, Clark & Stuart Inc bought a new stake in Sysco in the fourth quarter worth approximately $7,613,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley cut their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Truist Financial decreased their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. cut their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group boosted their target price on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.77.

Insiders Place Their Bets

In other news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the transaction, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. The trade was a 46.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is currently owned by insiders.

Sysco Stock Performance

Shares of Sysco stock opened at $74.78 on Tuesday. The company has a market cap of $36.58 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. 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 $82.33. The business has a 50 day moving average price of $73.28 and a 200-day moving average price of $75.49.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the firm posted $0.89 EPS. Equities analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, April 4th. 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.