3,045 Shares in Sysco Co. (NYSE:SYY) Acquired by Capital Asset Advisory Services LLC

Capital Asset Advisory Services LLC acquired a new position in Sysco Co. (NYSE:SYY) during the first quarter, Holdings Channel reports. The institutional investor acquired 3,045 shares of the company’s stock, valued at approximately $233,000.

Other hedge funds have also recently added to or reduced their stakes in the company. First United Bank & Trust acquired a new position in Sysco in the fourth quarter worth approximately $26,000. AdvisorNet Financial Inc grew its holdings in Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares during the last quarter. Burkett Financial Services LLC acquired a new position in Sysco during the fourth quarter valued at approximately $30,000. Headlands Technologies LLC acquired a new position in Sysco during the fourth quarter valued at approximately $34,000. Finally, JFS Wealth Advisors LLC grew its holdings in Sysco by 39.3% during the fourth quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 141 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SYY shares. Piper Sandler lowered their price target on Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. UBS Group lowered their price target on Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Barclays lowered their price target on Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Morgan Stanley lowered their price objective on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 23rd. Finally, Truist Financial lowered their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $84.90.

Sysco Stock Performance

SYY stock traded down $1.08 during midday trading on Friday, hitting $71.39. The stock had a trading volume of 15,189,194 shares, compared to its average volume of 3,189,098. The firm has a market capitalization of $35.55 billion, a price-to-earnings ratio of 17.41, a P/E/G ratio of 2.08 and a beta of 1.17. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The stock has a 50-day simple moving average of $73.94 and a 200 day simple moving average of $76.38. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. The firm had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. Sysco’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned $0.90 earnings per share. As a group, equities research analysts anticipate that Sysco Co. will post 4.29 earnings per share for the current year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be given a $0.51 dividend. This is a boost from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a yield of 2.86%. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio (DPR) is 48.78%.

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.