AE Wealth Management LLC boosted its holdings in Sysco Co. (NYSE:SYY – Free Report) by 28.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,149 shares of the company’s stock after purchasing an additional 7,302 shares during the quarter. AE Wealth Management LLC’s holdings in Sysco were worth $2,460,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. MRP Capital Investments LLC acquired a new position in Sysco in the first quarter worth $31,000. Sunbelt Securities Inc. acquired a new position in Sysco in the first quarter worth $32,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Sysco in the first quarter worth $38,000. MayTech Global Investments LLC acquired a new position in Sysco in the fourth quarter worth $38,000. Finally, Barrett & Company Inc. acquired a new position in Sysco in the first quarter worth $41,000. Institutional investors and hedge funds own 80.60% of the company’s stock.
Sysco Price Performance
NYSE SYY opened at $68.63 on Friday. Sysco Co. has a 12 month low of $68.18 and a 12 month high of $87.41. The company has a debt-to-equity ratio of 5.15, a current ratio of 1.24 and a quick ratio of 0.72. The firm has a market capitalization of $34.65 billion, a PE ratio of 19.78, a P/E/G ratio of 1.32 and a beta of 1.11. The company’s 50 day simple moving average is $72.05 and its 200 day simple moving average is $73.45.
Sysco (NYSE:SYY – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. The firm had revenue of $19.73 billion for the quarter, compared to analyst estimates of $19.95 billion. Sysco had a net margin of 2.32% and a return on equity of 133.27%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.15 earnings per share. As a group, equities research analysts forecast that Sysco Co. will post 4.29 EPS for the current fiscal year.
Sysco Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be given a $0.50 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $2.00 annualized dividend and a yield of 2.91%. Sysco’s dividend payout ratio (DPR) is 57.64%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. StockNews.com assumed coverage on Sysco in a research note on Thursday, August 17th. They issued a “strong-buy” rating on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $79.00 target price on shares of Sysco in a research note on Wednesday, August 2nd. Stephens reiterated an “overweight” rating and issued a $90.00 target price on shares of Sysco in a research note on Tuesday, August 1st. Truist Financial cut their target price on Sysco from $88.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, August 2nd. Finally, Barclays raised their target price on Sysco from $85.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.91.
Get Our Latest Stock Analysis on SYY
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.
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