Cambridge Advisors Inc. Makes New $218,000 Investment in Sysco Co. (NYSE:SYY)

Cambridge Advisors Inc. bought a new position in shares of Sysco Co. (NYSE:SYY) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,680 shares of the company’s stock, valued at approximately $218,000.

Other institutional investors have also recently made changes to their positions in the company. First United Bank & Trust purchased a new position in shares of Sysco during the fourth quarter worth $26,000. AdvisorNet Financial Inc increased its holdings in Sysco by 74.0% in the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after buying an additional 159 shares in the last quarter. Burkett Financial Services LLC purchased a new position in Sysco in the fourth quarter valued at $30,000. Headlands Technologies LLC purchased a new position in Sysco in the fourth quarter valued at $34,000. Finally, JFS Wealth Advisors LLC grew its position in shares of Sysco by 39.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 141 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of SYY opened at $71.39 on Friday. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The firm’s 50 day moving average price is $73.94 and its 200 day moving average price is $76.38. The company has a market cap of $35.55 billion, a P/E ratio of 17.41, a PEG ratio of 2.08 and a beta of 1.17. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The company had revenue of $19.38 billion for the quarter, compared to the consensus estimate of $19.74 billion. During the same period in the prior year, the firm posted $0.90 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, research analysts forecast that Sysco Co. will post 4.29 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a $0.51 dividend. The ex-dividend date is Friday, July 5th. This is an increase from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. Sysco’s dividend payout ratio is currently 48.78%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SYY. Morgan Stanley dropped their target price on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 23rd. JPMorgan Chase & Co. dropped their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Piper Sandler decreased their target price on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. BMO Capital Markets decreased their target price on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Finally, UBS Group decreased their target price on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $84.90.

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.