Brookstone Capital Management Purchases 1,108 Shares of Sysco Co. (NYSE:SYY)

Brookstone Capital Management raised its position in Sysco Co. (NYSE:SYY) by 7.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,136 shares of the company’s stock after purchasing an additional 1,108 shares during the period. Brookstone Capital Management’s holdings in Sysco were worth $1,182,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Chicago Partners Investment Group LLC grew its stake in shares of Sysco by 1.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock worth $536,000 after acquiring an additional 124 shares during the period. Plimoth Trust Co. LLC raised its stake in Sysco by 0.6% during the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after buying an additional 139 shares during the last quarter. Meeder Advisory Services Inc. raised its stake in Sysco by 1.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock valued at $679,000 after buying an additional 141 shares during the last quarter. Tompkins Financial Corp lifted its holdings in shares of Sysco by 1.6% during the 1st quarter. Tompkins Financial Corp now owns 9,144 shares of the company’s stock valued at $742,000 after buying an additional 144 shares during the period. Finally, Moseley Investment Management Inc. grew its holdings in shares of Sysco by 2.0% in the first quarter. Moseley Investment Management Inc. now owns 7,322 shares of the company’s stock worth $594,000 after acquiring an additional 145 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SYY. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Barclays increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Jefferies Financial Group boosted their target price on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Truist Financial decreased their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Finally, Bank of America cut their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.08.

Sysco Stock Up 0.8 %

SYY opened at $74.42 on Friday. Sysco Co. has a fifty-two week low of $62.45 and a fifty-two 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 stock has a market cap of $37.06 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 1.94 and a beta of 1.20. The firm’s fifty day moving average is $76.53 and its 200 day moving average is $75.12.

Sysco (NYSE:SYY) last released its quarterly earnings data 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 firm had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.34 earnings per share. On average, sell-side analysts forecast that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business 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 dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s 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.