MBB Public Markets I LLC Has $2.52 Million Position in Sysco Co. (NYSE:SYY)

MBB Public Markets I LLC lifted its holdings in Sysco Co. (NYSE:SYY) by 1,035.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,349 shares of the company’s stock after buying an additional 32,235 shares during the period. MBB Public Markets I LLC’s holdings in Sysco were worth $2,524,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. TruNorth Capital Management LLC acquired a new stake in Sysco during the 2nd quarter worth about $25,000. OFI Invest Asset Management purchased a new position in Sysco during the first quarter valued at approximately $31,000. Fairscale Capital LLC purchased a new position in Sysco during the second quarter valued at approximately $38,000. Fairman Group LLC acquired a new position in Sysco in the 4th quarter valued at approximately $39,000. Finally, Livelsberger Financial Advisory purchased a new stake in Sysco in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley dropped their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. JPMorgan Chase & Co. lifted their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Barclays increased their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $86.08.

Sysco Stock Performance

NYSE:SYY opened at $77.66 on Friday. The firm has a market capitalization of $38.17 billion, a PE ratio of 18.94, a PEG ratio of 1.99 and a beta of 1.20. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The firm’s fifty day simple moving average is $76.21 and its 200 day simple moving average is $75.44.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 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 posted $1.34 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, sell-side analysts anticipate that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

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

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.