Sysco Co. (NYSE:SYY) Stake Raised by Walter Public Investments Inc.

Walter Public Investments Inc. boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 21.7% in the third quarter, HoldingsChannel reports. The fund owned 162,830 shares of the company’s stock after buying an additional 29,078 shares during the quarter. Sysco accounts for 2.2% of Walter Public Investments Inc.’s portfolio, making the stock its 27th biggest holding. Walter Public Investments Inc.’s holdings in Sysco were worth $12,711,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. TruNorth Capital Management LLC acquired a new stake in shares of Sysco during the second quarter worth approximately $25,000. Armstrong Advisory Group Inc. increased its stake in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after buying an additional 310 shares during the period. OFI Invest Asset Management purchased a new stake in Sysco in the 1st quarter worth approximately $31,000. Fairscale Capital LLC acquired a new stake in shares of Sysco during the 2nd quarter valued at $38,000. Finally, LRI Investments LLC purchased a new position in shares of Sysco during the 1st quarter valued at $45,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

SYY has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Jefferies Financial Group lifted their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Truist Financial dropped their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Barclays boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Two investment 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.08.

Sysco Price Performance

NYSE SYY opened at $75.77 on Thursday. Sysco Co. has a 1 year low of $64.16 and a 1 year high of $82.89. The company has a fifty day simple moving average of $76.56 and a 200 day simple moving average of $74.96. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The company has a market cap of $37.22 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.96 and a beta of 1.20.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.34 earnings per share. On average, sell-side analysts predict that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders 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 dividend yield of 2.69%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

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.