Carret Asset Management LLC Purchases 1,420 Shares of Sysco Co. (NYSE:SYY)

Carret Asset Management LLC raised its position in Sysco Co. (NYSE:SYY) by 8.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,206 shares of the company’s stock after buying an additional 1,420 shares during the period. Carret Asset Management LLC’s holdings in Sysco were worth $1,371,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. TruNorth Capital Management LLC acquired a new position in Sysco during the 2nd quarter worth about $25,000. First United Bank & Trust bought a new stake in shares of Sysco during the fourth quarter valued at approximately $26,000. OFI Invest Asset Management acquired a new stake in shares of Sysco in the first quarter valued at approximately $31,000. Burkett Financial Services LLC bought a new position in Sysco in the 4th quarter worth approximately $30,000. Finally, JFS Wealth Advisors LLC lifted its holdings in Sysco by 39.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock worth $37,000 after buying an additional 141 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

SYY has been the subject of several research reports. BMO Capital Markets lowered their target price on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 9th. Barclays upped their target price 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. Truist Financial lowered their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Finally, Guggenheim upgraded shares of 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. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average target price of $85.27.

Sysco Trading Up 0.6 %

Shares of SYY stock traded up $0.44 on Monday, hitting $77.97. The stock had a trading volume of 2,346,400 shares, compared to its average volume of 3,060,546. The company has a current ratio of 1.20, a quick ratio of 0.69 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 fifty day moving average price of $74.07 and a two-hundred day moving average price of $75.82. The firm has a market cap of $38.83 billion, a P/E ratio of 19.02, a PEG ratio of 2.03 and a beta of 1.18.

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

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio is 49.76%.

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.