Allied Investment Advisors LLC Increases Stake in Sysco Co. (NYSE:SYY)

Allied Investment Advisors LLC lifted its position in Sysco Co. (NYSE:SYY) by 3.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,333 shares of the company’s stock after acquiring an additional 3,635 shares during the quarter. Allied Investment Advisors LLC’s holdings in Sysco were worth $9,627,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Capital Research Global Investors boosted its position in shares of Sysco by 112.8% during the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after buying an additional 3,504,740 shares during the period. ProShare Advisors LLC boosted its holdings in Sysco by 103.0% during the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after acquiring an additional 2,408,226 shares during the period. Swedbank AB bought a new position in Sysco in the 1st quarter valued at $178,824,000. Diamond Hill Capital Management Inc. increased its stake in Sysco by 49.8% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after purchasing an additional 1,997,895 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Sysco by 26.1% during the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after purchasing an additional 1,782,180 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SYY has been the topic of a number of research analyst reports. Bank of America cut their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. JPMorgan Chase & Co. raised their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Barclays boosted their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Jefferies Financial Group increased their price objective on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Truist Financial decreased their target price on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.08.

Sysco Stock Down 0.3 %

Shares of SYY traded down $0.22 during trading hours on Friday, hitting $75.41. The company had a trading volume of 2,792,314 shares, compared to its average volume of 4,208,693. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The company’s fifty day moving average price is $76.65 and its two-hundred day moving average price is $75.35. The company has a market capitalization of $37.07 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business 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 company posted $1.34 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. As a group, equities analysts forecast that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.71%. Sysco’s dividend payout ratio (DPR) is 49.76%.

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.