Valeo Financial Advisors LLC increased its holdings in shares of Sysco Co. (NYSE:SYY – Free Report) by 19.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,272 shares of the company’s stock after buying an additional 860 shares during the period. Valeo Financial Advisors LLC’s holdings in Sysco were worth $412,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC lifted its holdings in shares of Sysco by 1.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock worth $536,000 after purchasing an additional 124 shares during the period. Plimoth Trust Co. LLC grew its position in shares of Sysco by 0.6% in the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after buying an additional 139 shares during the last quarter. Meeder Advisory Services Inc. increased its stake in shares of Sysco by 1.7% in the first quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock valued at $679,000 after buying an additional 141 shares during the period. Tompkins Financial Corp raised its position in shares of Sysco by 1.6% during the first quarter. Tompkins Financial Corp now owns 9,144 shares of the company’s stock worth $742,000 after acquiring an additional 144 shares during the last quarter. Finally, Moseley Investment Management Inc. lifted its stake in shares of Sysco by 2.0% in the first quarter. Moseley Investment Management Inc. now owns 7,322 shares of the company’s stock worth $594,000 after acquiring an additional 145 shares during the period. 83.41% of the stock is owned by institutional investors.
Sysco Price Performance
Shares of SYY opened at $75.26 on Tuesday. The stock has a market cap of $36.97 billion, a P/E ratio of 19.35, a P/E/G ratio of 1.92 and a beta of 1.20. The business’s fifty day moving average is $76.54 and its 200 day moving average is $74.99. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. Sysco Co. has a 12-month low of $63.18 and a 12-month high of $82.89.
Sysco (NYSE:SYY – Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. During the same period in the previous year, the firm posted $1.34 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Sell-side analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current fiscal year.
Sysco Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.71%. Sysco’s payout ratio is 52.44%.
Wall Street Analyst Weigh In
Several research firms have issued reports on SYY. Barclays raised their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Bank of America cut their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Morgan Stanley lowered their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $86.08.
Check Out Our Latest Analysis on SYY
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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