AE Wealth Management LLC Grows Holdings in Sysco Co. (NYSE:SYY)

AE Wealth Management LLC boosted its position in Sysco Co. (NYSE:SYY) by 19.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 14,879 shares of the company’s stock after acquiring an additional 2,399 shares during the quarter. AE Wealth Management LLC’s holdings in Sysco were worth $1,062,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. TruNorth Capital Management LLC acquired a new position in Sysco during the 2nd quarter worth $25,000. Burkett Financial Services LLC bought a new position in Sysco in the 4th quarter valued at about $30,000. OFI Invest Asset Management bought a new position in shares of Sysco in the first quarter valued at approximately $31,000. Fairman Group LLC acquired a new position in shares of Sysco during the 4th quarter valued at $39,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Sysco in the fourth quarter valued at $44,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SYY shares. Truist Financial lowered their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. JPMorgan Chase & Co. lifted their price target 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. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Tuesday, May 28th. Barclays upped their price objective 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. Finally, Morgan Stanley dropped their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.55.

Sysco Stock Performance

Shares of SYY opened at $76.41 on Wednesday. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. 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 company has a market capitalization of $38.05 billion, a PE ratio of 18.64, a PEG ratio of 2.01 and a beta of 1.20. The company’s 50 day moving average price is $76.03 and its 200 day moving average price is $75.47.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share 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 for the quarter, compared to the consensus estimate of $20.51 billion. During the same period in the prior year, the business posted $1.34 earnings per share. Sysco’s revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts expect that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.67%. Sysco’s dividend payout ratio is 49.76%.

Sysco Company 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.