Andina Capital Management LLC Raises Holdings in Sysco Co. (NYSE:SYY)

Andina Capital Management LLC grew its position in shares of Sysco Co. (NYSE:SYY) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,430 shares of the company’s stock after purchasing an additional 194 shares during the period. Andina Capital Management LLC’s holdings in Sysco were worth $346,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SYY. Claro Advisors LLC purchased a new position in shares of Sysco during the first quarter worth approximately $206,000. Allspring Global Investments Holdings LLC raised its position in shares of Sysco by 23.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 500,562 shares of the company’s stock worth $40,636,000 after acquiring an additional 94,231 shares during the period. Plimoth Trust Co. LLC increased its stake in shares of Sysco by 3.0% during the first quarter. Plimoth Trust Co. LLC now owns 22,408 shares of the company’s stock worth $1,819,000 after purchasing an additional 651 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Sysco during the first quarter worth about $434,000. Finally, First Trust Direct Indexing L.P. increased its stake in shares of Sysco by 11.8% during the first quarter. First Trust Direct Indexing L.P. now owns 20,268 shares of the company’s stock worth $1,645,000 after purchasing an additional 2,135 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SYY. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Morgan Stanley decreased their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Bank of America reduced their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Barclays increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group increased 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. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Price Performance

Sysco stock traded down $0.45 during trading hours on Tuesday, hitting $74.65. 2,609,357 shares of the company traded hands, compared to its average volume of 3,146,101. The firm has a market cap of $36.67 billion, a P/E ratio of 19.31, a P/E/G ratio of 1.93 and a beta of 1.20. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The firm’s 50-day simple moving average is $76.39 and its two-hundred day simple moving average is $74.75. Sysco Co. has a 1-year low of $64.28 and a 1-year high of $82.89.

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

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Friday, October 4th. Sysco’s dividend payout ratio is 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.