Dana Investment Advisors Inc. Buys 538 Shares of Sysco Co. (NYSE:SYY)

Dana Investment Advisors Inc. raised its position in Sysco Co. (NYSE:SYY) by 0.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,158 shares of the company’s stock after buying an additional 538 shares during the quarter. Dana Investment Advisors Inc. owned 0.05% of Sysco worth $19,358,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Capital World Investors acquired a new position in Sysco in the 4th quarter worth about $683,599,000. Capital Research Global Investors increased its position in Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after purchasing an additional 3,504,740 shares during the period. ProShare Advisors LLC raised its holdings in Sysco by 103.0% during the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after purchasing an additional 2,408,226 shares during the last quarter. Swedbank AB acquired a new position in shares of Sysco in the 1st quarter worth approximately $178,824,000. Finally, The Manufacturers Life Insurance Company boosted its position in Sysco by 132.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock valued at $267,177,000 after acquiring an additional 2,084,501 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Up 0.5 %

Sysco stock opened at $78.06 on Tuesday. 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 stock has a market cap of $38.37 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The firm’s 50-day simple moving average is $76.30 and its 200 day simple moving average is $75.39.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $20.51 billion. During the same period in the prior year, the company posted $1.34 earnings per share. Sysco’s quarterly revenue was up 4.2% on a year-over-year basis. Research analysts predict that Sysco Co. will post 4.6 EPS for the current fiscal 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 issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.61%. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SYY. Morgan Stanley cut their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. JPMorgan Chase & Co. lifted their price target 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. Jefferies Financial Group upped their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Barclays boosted their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Truist Financial cut their price target on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.08.

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.