Arkadios Wealth Advisors Purchases 1,721 Shares of Sysco Co. (NYSE:SYY)

Arkadios Wealth Advisors lifted its position in Sysco Co. (NYSE:SYY) by 49.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,210 shares of the company’s stock after acquiring an additional 1,721 shares during the quarter. Arkadios Wealth Advisors’ holdings in Sysco were worth $407,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SYY. Capital Research Global Investors lifted its holdings in shares of Sysco by 112.8% in the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after acquiring an additional 3,504,740 shares during the last quarter. ProShare Advisors LLC lifted 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 valued at $338,830,000 after buying an additional 2,408,226 shares in the last quarter. Swedbank AB bought a new stake in Sysco during the 1st quarter valued at about $178,824,000. Diamond Hill Capital Management Inc. lifted its holdings in Sysco by 49.8% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after buying an additional 1,997,895 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after buying an additional 1,782,180 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday, October 21st. Wells Fargo & Company decreased their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday. Morgan Stanley cut their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Finally, Bank of America cut their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.77.

Sysco Stock Up 0.2 %

Shares of Sysco stock opened at $74.31 on Thursday. The firm’s 50 day moving average price is $76.28 and its 200-day moving average price is $74.74. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. Sysco Co. has a 52-week low of $64.28 and a 52-week high of $82.89. The company has a market cap of $36.50 billion, a P/E ratio of 19.10, a PEG ratio of 1.93 and a beta of 1.20.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The firm had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.07 EPS. On average, sell-side analysts predict that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Friday, October 4th. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

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.