Bradley Foster & Sargent Inc. CT Has $3.14 Million Holdings in Sysco Co. (NYSE:SYY)

Bradley Foster & Sargent Inc. CT decreased its stake in shares of Sysco Co. (NYSE:SYY) by 42.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,036 shares of the company’s stock after selling 32,308 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Sysco were worth $3,144,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SYY. Accretive Wealth Partners LLC boosted its position in shares of Sysco by 1.0% during the fourth quarter. Accretive Wealth Partners LLC now owns 21,788 shares of the company’s stock valued at $1,593,000 after buying an additional 212 shares during the last quarter. Gryphon Financial Partners LLC boosted its position in shares of Sysco by 55.0% during the fourth quarter. Gryphon Financial Partners LLC now owns 4,817 shares of the company’s stock valued at $352,000 after buying an additional 1,710 shares during the last quarter. Panagora Asset Management Inc. boosted its position in shares of Sysco by 8.6% during the fourth quarter. Panagora Asset Management Inc. now owns 19,344 shares of the company’s stock valued at $1,415,000 after buying an additional 1,531 shares during the last quarter. Level Four Advisory Services LLC boosted its position in shares of Sysco by 18.5% during the fourth quarter. Level Four Advisory Services LLC now owns 6,910 shares of the company’s stock valued at $505,000 after buying an additional 1,081 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC boosted its position in shares of Sysco by 10.6% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,429 shares of the company’s stock valued at $324,000 after buying an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of SYY opened at $74.55 on Thursday. The firm has a market cap of $37.12 billion, a PE ratio of 18.18, a PEG ratio of 2.01 and a beta of 1.20. The stock’s fifty day moving average price is $75.76 and its two-hundred day moving average price is $75.62. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating 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 company 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 posted $1.34 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities research analysts forecast that Sysco Co. will post 4.6 EPS for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.74%. Sysco’s payout ratio is 49.76%.

Wall Street Analyst Weigh In

SYY has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price target on Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Bank of America dropped their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Tuesday, May 28th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and a consensus target price of $85.55.

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.