Raymond James & Associates Increases Position in Sysco Co. (NYSE:SYY)

Raymond James & Associates lifted its position in shares of Sysco Co. (NYSE:SYYFree Report) by 2.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,511,632 shares of the company’s stock after buying an additional 42,707 shares during the quarter. Raymond James & Associates owned approximately 0.30% of Sysco worth $107,915,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SYY. TruNorth Capital Management LLC bought a new position in shares of Sysco in the second quarter worth about $25,000. First United Bank & Trust purchased a new stake in Sysco during the 4th quarter valued at approximately $26,000. OFI Invest Asset Management bought a new stake in shares of Sysco during the first quarter valued at approximately $31,000. Burkett Financial Services LLC purchased a new position in shares of Sysco in the fourth quarter worth $30,000. Finally, Headlands Technologies LLC bought a new position in shares of Sysco during the fourth quarter worth $34,000. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 1.1 %

Shares of Sysco stock traded up $0.81 during trading on Friday, hitting $76.57. The stock had a trading volume of 2,197,203 shares, compared to its average volume of 3,204,062. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The stock has a market cap of $38.13 billion, a PE ratio of 18.68, a PEG ratio of 1.98 and a beta of 1.18. The firm’s fifty day simple moving average is $73.08 and its 200-day simple moving average is $76.07.

Sysco (NYSE:SYYGet Free Report) last announced its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. During the same quarter in the previous year, the business earned $1.34 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, sell-side analysts expect that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio is currently 49.76%.

Wall Street Analyst Weigh In

SYY has been the topic of several research analyst reports. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Tuesday, May 28th. Truist Financial dropped their price target on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. JPMorgan Chase & Co. reduced their price objective on Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft lowered their target price on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Finally, Morgan Stanley reduced their price target 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. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.27.

View Our Latest Stock Report on SYY

Sysco Profile

(Free Report)

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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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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