ORG Wealth Partners LLC Buys Shares of 3,214 Sysco Co. (NYSE:SYY)

ORG Wealth Partners LLC purchased a new position in shares of Sysco Co. (NYSE:SYY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,214 shares of the company’s stock, valued at approximately $251,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYY. Paladin Wealth LLC purchased a new position in Sysco during the 3rd quarter valued at about $155,000. Woodstock Corp increased its holdings in Sysco by 0.9% during the third quarter. Woodstock Corp now owns 77,595 shares of the company’s stock valued at $6,057,000 after buying an additional 660 shares during the period. Armstrong Advisory Group Inc. raised its stake in Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after buying an additional 310 shares in the last quarter. Webster Bank N. A. lifted its holdings in Sysco by 13.7% during the third quarter. Webster Bank N. A. now owns 2,612 shares of the company’s stock worth $204,000 after buying an additional 314 shares during the period. Finally, Willner & Heller LLC bought a new stake in Sysco during the 3rd quarter valued at $214,000. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 0.1 %

Shares of NYSE:SYY opened at $74.36 on Monday. The business has a 50-day moving average price of $76.53 and a 200-day moving average price of $75.03. The stock has a market cap of $36.53 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 1.92 and a beta of 1.20. Sysco Co. has a 52-week low of $63.18 and a 52-week high of $82.89. 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 (NYSE:SYY) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.38 by $0.01. The business had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.34 EPS. Equities analysts predict that Sysco Co. will post 4.6 EPS for the current year.

Sysco Dividend Announcement

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 $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 dividend yield of 2.74%. Sysco’s payout ratio is 52.44%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SYY. Truist Financial decreased their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Barclays raised their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Morgan Stanley reduced their price target on 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 equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $86.08.

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.