Sysco Co. (NYSE:SYY) Shares Acquired by Allworth Financial LP

Allworth Financial LP lifted its holdings in shares of Sysco Co. (NYSE:SYY) by 2.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,832 shares of the company’s stock after acquiring an additional 182 shares during the period. Allworth Financial LP’s holdings in Sysco were worth $533,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. TruNorth Capital Management LLC acquired a new stake in shares of Sysco during the second quarter worth $25,000. Armstrong Advisory Group Inc. boosted its holdings in shares of Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares during the last quarter. Fairscale Capital LLC acquired a new position in Sysco in the second quarter valued at $38,000. LRI Investments LLC acquired a new position in Sysco in the first quarter valued at $45,000. Finally, Livelsberger Financial Advisory acquired a new position in Sysco in the third quarter valued at $47,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Down 1.2 %

Shares of NYSE SYY opened at $74.17 on Wednesday. Sysco Co. has a 1 year low of $64.28 and a 1 year high of $82.89. The firm has a market cap of $36.44 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 1.93 and a beta of 1.20. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The stock’s 50-day simple moving average is $76.34 and its 200-day simple moving average is $74.75.

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

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, October 4th. Sysco’s payout ratio is 52.44%.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Jefferies Financial Group lifted their target price on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Morgan Stanley reduced their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Bank of America reduced their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, Barclays boosted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.