LPL Financial LLC Has $36.17 Million Holdings in Sysco Co. (NYSE:SYY)

LPL Financial LLC raised its position in Sysco Co. (NYSE:SYY) by 1.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 506,653 shares of the company’s stock after purchasing an additional 6,132 shares during the quarter. LPL Financial LLC’s holdings in Sysco were worth $36,170,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYY. TruNorth Capital Management LLC acquired a new position in shares of Sysco during the second quarter worth approximately $25,000. Verity & Verity LLC acquired a new position in shares of Sysco during the first quarter worth approximately $26,000. Burkett Financial Services LLC acquired a new position in shares of Sysco during the fourth quarter worth approximately $30,000. OFI Invest Asset Management acquired a new position in shares of Sysco during the first quarter worth approximately $31,000. Finally, Fairman Group LLC acquired a new position in shares of Sysco during the fourth quarter worth approximately $39,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SYY shares. Bank of America dropped their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Tuesday, May 28th. Truist Financial dropped their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. JPMorgan Chase & Co. dropped their price target on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Finally, Barclays upped their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.27.

Sysco Stock Down 0.6 %

Shares of SYY stock opened at $76.52 on Monday. The firm has a fifty day moving average of $75.34 and a 200-day moving average of $75.66. 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 $62.24 and a 12-month high of $82.89. The company has a market capitalization of $37.61 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 2.01 and a beta of 1.20.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share (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 quarter in the prior year, the firm earned $1.34 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts predict that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

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