Empower Advisory Group LLC Buys 41,944 Shares of Sysco Co. (NYSE:SYY)

Empower Advisory Group LLC increased its stake in shares of Sysco Co. (NYSE:SYY) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,054,448 shares of the company’s stock after buying an additional 41,944 shares during the quarter. Empower Advisory Group LLC owned about 0.21% of Sysco worth $80,623,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in 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 during the period. Massachusetts Financial Services Co. MA bought a new position in Sysco in the 3rd quarter valued at about $137,900,000. Nordea Investment Management AB raised its position in shares of Sysco by 52.3% in the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock valued at $208,666,000 after buying an additional 933,327 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after acquiring an additional 672,940 shares during the period. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Sysco during the 3rd quarter worth approximately $44,722,000. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on SYY shares. Jefferies Financial Group upped their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. UBS Group dropped their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Truist Financial decreased their target price on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, Melius assumed coverage on shares of Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.38.

Sysco Stock Performance

NYSE SYY opened at $71.10 on Tuesday. The company has a market capitalization of $34.78 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.88 and a beta of 1.17. 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 twelve month low of $69.03 and a twelve month high of $82.33. The stock has a fifty day simple moving average of $74.88 and a 200 day simple moving average of $75.83.

Sysco (NYSE:SYY) last issued its quarterly earnings results 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 period in the previous year, the business earned $0.89 earnings per share. Sell-side analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,370 shares of company stock valued at $5,965,519. 0.54% of the stock is currently owned by company insiders.

About Sysco

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.