Sepio Capital LP Buys 13,709 Shares of Sysco Co. (NYSE:SYY)

Sepio Capital LP increased its stake in shares of Sysco Co. (NYSE:SYY) by 41.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 47,144 shares of the company’s stock after acquiring an additional 13,709 shares during the period. Sepio Capital LP’s holdings in Sysco were worth $3,366,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. TruNorth Capital Management LLC acquired a new position in Sysco during the 2nd quarter worth $25,000. OFI Invest Asset Management acquired a new position in shares of Sysco during the 1st quarter worth about $31,000. Burkett Financial Services LLC bought a new stake in Sysco during the 4th quarter valued at approximately $30,000. Fairscale Capital LLC acquired a new stake in Sysco in the 2nd quarter valued at approximately $38,000. Finally, Fairman Group LLC bought a new position in Sysco in the 4th quarter worth approximately $39,000. 83.41% of the stock is owned by institutional investors.

Sysco Stock Performance

Shares of NYSE:SYY opened at $77.65 on Friday. The firm’s 50 day simple moving average is $76.13 and its 200 day simple moving average is $75.49. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The company has a market capitalization of $38.17 billion, a price-to-earnings ratio of 18.94, a P/E/G ratio of 1.99 and a beta of 1.20. 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 (NYSE:SYY) last announced 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. The company had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $1.34 earnings per share. As a group, sell-side analysts forecast that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio is currently 49.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group raised their price objective on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday. Truist Financial dropped their price objective on shares of 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. increased 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 Monday, September 16th. Barclays boosted their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Bank of America decreased their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $86.08.

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.