Claro Advisors LLC Buys New Position in Sysco Co. (NYSE:SYY)

Claro Advisors LLC bought a new stake in Sysco Co. (NYSE:SYY) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,536 shares of the company’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SYY. BKM Wealth Management LLC raised its stake in shares of Sysco by 242.3% during the first quarter. BKM Wealth Management LLC now owns 1,965 shares of the company’s stock worth $160,000 after acquiring an additional 1,391 shares in the last quarter. Successful Portfolios LLC purchased a new position in shares of Sysco during the first quarter worth approximately $209,000. Dumont & Blake Investment Advisors LLC raised its stake in shares of Sysco by 1.0% during the first quarter. Dumont & Blake Investment Advisors LLC now owns 16,307 shares of the company’s stock worth $1,324,000 after acquiring an additional 163 shares in the last quarter. Red Door Wealth Management LLC purchased a new position in shares of Sysco during the first quarter worth approximately $226,000. Finally, Cornerstone Wealth Group LLC purchased a new position in shares of Sysco during the first quarter worth approximately $211,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYY has been the topic of several research reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Truist Financial decreased their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Barclays decreased their target price on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Morgan Stanley decreased 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 note on Thursday, May 23rd. Finally, 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 research note on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.90.

Sysco Stock Performance

NYSE:SYY opened at $70.59 on Wednesday. The stock has a market cap of $35.15 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18. The firm’s fifty day simple moving average is $73.79 and its 200 day simple moving average is $76.38. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. 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 earnings results 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 firm had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter in the previous year, the business posted $0.90 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, research analysts predict that Sysco Co. will post 4.29 EPS for the current year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Friday, July 5th. This is a boost from Sysco’s previous quarterly dividend of $0.50. Sysco’s payout ratio is 48.78%.

Sysco 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.