Sysco Co. (NYSE:SYY) Position Boosted by Strategic Wealth Partners Ltd.

Strategic Wealth Partners Ltd. lifted its stake in Sysco Co. (NYSE:SYY) by 25.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,541 shares of the company’s stock after purchasing an additional 15,708 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Sysco were worth $5,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. TruNorth Capital Management LLC acquired a new position in Sysco in the 2nd quarter worth about $25,000. OFI Invest Asset Management bought a new stake in shares of Sysco in the 1st quarter valued at approximately $31,000. Fairscale Capital LLC acquired a new position in Sysco in the second quarter worth approximately $38,000. Fairman Group LLC bought a new position in Sysco during the fourth quarter valued at approximately $39,000. Finally, Livelsberger Financial Advisory acquired a new stake in Sysco in the fourth quarter valued at approximately $44,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SYY. Morgan Stanley dropped their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Truist Financial reduced their price target on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Barclays increased their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Bank of America lowered 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. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.08.

Sysco Trading Up 0.8 %

Shares of SYY stock opened at $75.32 on Wednesday. The firm has a market capitalization of $37.00 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 1.96 and a beta of 1.20. Sysco Co. has a 1 year low of $62.40 and a 1 year high of $82.89. The firm’s fifty day simple moving average is $76.65 and its 200 day simple moving average is $75.18. 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 (NYSE:SYY) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. During the same quarter in the previous year, the firm posted $1.34 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.71%. Sysco’s dividend payout ratio is currently 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.