Sysco Co. (NYSE:SYY) Shares Bought by 1620 Investment Advisors Inc.

1620 Investment Advisors Inc. lifted its holdings in shares of Sysco Co. (NYSE:SYY) by 415.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,120 shares of the company’s stock after buying an additional 3,320 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Sysco were worth $294,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC increased its stake in shares of Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after purchasing an additional 6,855 shares in the last quarter. Bridgefront Capital LLC acquired a new position in shares of Sysco during the fourth quarter valued at approximately $841,000. Nebula Research & Development LLC purchased a new position in shares of Sysco in the fourth quarter valued at approximately $916,000. Artisan Partners Limited Partnership boosted its stake in shares of Sysco by 11.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 597,216 shares of the company’s stock worth $43,674,000 after acquiring an additional 62,556 shares during the last quarter. Finally, Cannell & Co. increased its position in shares of Sysco by 20.4% during the fourth quarter. Cannell & Co. now owns 206,834 shares of the company’s stock worth $15,126,000 after purchasing an additional 35,089 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Up 0.6 %

Sysco stock traded up $0.45 during mid-day trading on Thursday, reaching $77.58. 1,807,950 shares of the company’s stock were exchanged, compared to its average volume of 3,082,164. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The company has a market cap of $38.63 billion, a P/E ratio of 18.92, a P/E/G ratio of 2.00 and a beta of 1.18. The company has a fifty day moving average of $73.52 and a 200-day moving average of $75.98.

Sysco (NYSE:SYY) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $20.51 billion. During the same period last year, the firm earned $1.34 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. Sell-side analysts expect that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.63%. Sysco’s dividend payout ratio is currently 49.76%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SYY shares. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Tuesday, May 28th. Piper Sandler dropped their price objective on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Barclays raised their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft dropped their price target 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, BMO Capital Markets reduced their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.27.

About Sysco

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.