Graypoint LLC Has $261,000 Position in Sysco Co. (NYSE:SYY)

Graypoint LLC grew its stake in shares of Sysco Co. (NYSE:SYY) by 9.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,657 shares of the company’s stock after buying an additional 307 shares during the period. Graypoint LLC’s holdings in Sysco were worth $261,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. TruNorth Capital Management LLC acquired a new position in shares of Sysco during the second quarter valued at about $25,000. First United Bank & Trust acquired a new position in shares of Sysco during the fourth quarter valued at about $26,000. Verity & Verity LLC bought a new stake in Sysco in the first quarter valued at about $26,000. Burkett Financial Services LLC bought a new stake in Sysco in the fourth quarter valued at about $30,000. Finally, OFI Invest Asset Management bought a new stake in Sysco in the first quarter valued at about $31,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Price Performance

SYY opened at $77.97 on Tuesday. Sysco Co. has a one year low of $62.24 and a one year 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’s 50 day simple moving average is $74.13 and its 200-day simple moving average is $75.81. The stock has a market capitalization of $38.32 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, beating 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 in the prior year, the firm earned $1.34 earnings per share. Sysco’s revenue was up 4.2% compared to the same quarter last year. Sell-side analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current fiscal 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 of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.62%. Sysco’s dividend payout ratio (DPR) is currently 49.76%.

Analyst Ratings Changes

SYY has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. 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. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Tuesday, May 28th. Finally, Truist Financial lowered their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and an average target price of $85.27.

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.