Sysco Co. (NYSE:SYY) Shares Bought by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. grew its position in Sysco Co. (NYSE:SYY) by 17.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,827 shares of the company’s stock after buying an additional 1,465 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Sysco were worth $702,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Accretive Wealth Partners LLC boosted its stake in shares of Sysco by 1.0% in the fourth quarter. Accretive Wealth Partners LLC now owns 21,788 shares of the company’s stock valued at $1,593,000 after purchasing an additional 212 shares during the period. Gryphon Financial Partners LLC increased its position in shares of Sysco by 55.0% during the fourth quarter. Gryphon Financial Partners LLC now owns 4,817 shares of the company’s stock worth $352,000 after acquiring an additional 1,710 shares during the period. Avantax Advisory Services Inc. raised its stake in shares of Sysco by 7.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 20,840 shares of the company’s stock valued at $1,524,000 after acquiring an additional 1,411 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in Sysco by 8.6% in the fourth quarter. Panagora Asset Management Inc. now owns 19,344 shares of the company’s stock valued at $1,415,000 after purchasing an additional 1,531 shares during the period. Finally, NorthRock Partners LLC acquired a new position in Sysco during the 4th quarter worth $291,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SYY shares. Deutsche Bank Aktiengesellschaft decreased their price objective on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Bank of America dropped their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Truist Financial decreased their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. JPMorgan Chase & Co. dropped their target price on Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Finally, Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a report on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and a consensus price target of $85.27.

Sysco Price Performance

Shares of NYSE:SYY opened at $76.52 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The company has a 50-day moving average price of $75.34 and a 200 day moving average price of $75.70. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a market cap of $37.61 billion, a P/E ratio of 18.66, a PEG ratio of 2.01 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.34 earnings per share. Research analysts predict that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.67%. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

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.