Courier Capital LLC Purchases New Shares in Sysco Co. (NYSE:SYY)

Courier Capital LLC purchased a new stake in Sysco Co. (NYSE:SYY) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,640 shares of the company’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. raised its position in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares during the last quarter. TruNorth Capital Management LLC purchased a new stake in Sysco in the 2nd quarter valued at $25,000. Fairscale Capital LLC purchased a new stake in Sysco in the 2nd quarter valued at $38,000. LRI Investments LLC purchased a new stake in Sysco in the 1st quarter valued at $45,000. Finally, ESL Trust Services LLC purchased a new stake in Sysco in the 1st quarter valued at $49,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of NYSE SYY opened at $74.37 on Friday. The company has a market cap of $36.53 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 1.95 and a beta of 1.20. Sysco Co. has a 12 month low of $64.28 and a 12 month high of $82.89. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The company has a 50-day simple moving average of $76.51 and a 200-day simple moving average of $74.82.

Sysco (NYSE:SYY) last released its earnings results 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 business had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. During the same period last year, the company earned $1.34 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.74%. Sysco’s dividend payout ratio is presently 52.44%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley cut their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday. Bank of America cut their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Jefferies Financial Group raised their target price on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.08.

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.