Franklin Street Advisors Inc. NC Purchases 560 Shares of Sysco Co. (NYSE:SYY)

Franklin Street Advisors Inc. NC boosted its position in Sysco Co. (NYSE:SYY) by 11.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,607 shares of the company’s stock after purchasing an additional 560 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Sysco were worth $438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Albion Financial Group UT raised its holdings in shares of Sysco by 27.8% in the 3rd quarter. Albion Financial Group UT now owns 1,378 shares of the company’s stock valued at $108,000 after purchasing an additional 300 shares in the last quarter. Tobam acquired a new stake in shares of Sysco in the third quarter worth $81,000. Steigerwald Gordon & Koch Inc. lifted its holdings in Sysco by 2.0% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 196,128 shares of the company’s stock valued at $15,310,000 after acquiring an additional 3,927 shares during the period. Strategic Wealth Partners Ltd. raised its position in shares of Sysco by 25.8% in the third quarter. Strategic Wealth Partners Ltd. now owns 76,541 shares of the company’s stock worth $5,975,000 after acquiring an additional 15,708 shares during the period. Finally, Brookstone Capital Management increased its stake in shares of Sysco by 7.9% during the third quarter. Brookstone Capital Management now owns 15,136 shares of the company’s stock worth $1,182,000 after purchasing an additional 1,108 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

SYY has been the topic of a number of recent analyst reports. Bank of America decreased their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Morgan Stanley cut their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Truist Financial reduced 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, June 24th. Barclays lifted their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and an average target price of $86.08.

Sysco Trading Up 0.7 %

NYSE:SYY traded up $0.48 during mid-day trading on Friday, hitting $74.28. The company had a trading volume of 227,699 shares, compared to its average volume of 3,142,500. Sysco Co. has a fifty-two week low of $62.45 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The firm has a market cap of $36.49 billion, a P/E ratio of 18.97, a P/E/G ratio of 1.94 and a beta of 1.20. The business’s fifty day moving average is $76.57 and its two-hundred day moving average is $75.16.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping 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 company had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. During the same period in the prior year, the firm earned $1.34 earnings per share. Sysco’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, research analysts expect that Sysco Co. will post 4.6 earnings per share for the current 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 $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Friday, October 4th. Sysco’s payout ratio is presently 52.44%.

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.