Schaper Benz & Wise Investment Counsel Inc. WI Grows Position in Sysco Co. (NYSE:SYY)

Schaper Benz & Wise Investment Counsel Inc. WI lifted its holdings in Sysco Co. (NYSE:SYY) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 264,228 shares of the company’s stock after buying an additional 5,254 shares during the period. Sysco makes up 1.6% of Schaper Benz & Wise Investment Counsel Inc. WI’s holdings, making the stock its 20th biggest position. Schaper Benz & Wise Investment Counsel Inc. WI owned 0.05% of Sysco worth $20,626,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. TruNorth Capital Management LLC purchased a new stake in Sysco in the 2nd quarter valued at $25,000. Armstrong Advisory Group Inc. grew its holdings in shares of Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares during the period. OFI Invest Asset Management acquired a new stake in Sysco during the first quarter worth about $31,000. Fairscale Capital LLC purchased a new position in Sysco during the second quarter worth about $38,000. Finally, LRI Investments LLC acquired a new position in Sysco in the 1st quarter valued at about $45,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of SYY stock opened at $75.54 on Friday. Sysco Co. has a 52 week low of $64.28 and a 52 week high of $82.89. The firm has a 50 day moving average of $76.55 and a two-hundred day moving average of $74.89. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The stock has a market capitalization of $37.62 billion, a PE ratio of 18.42, a P/E/G ratio of 1.96 and a beta of 1.20.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. Sysco’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the business posted $1.34 earnings per share. On average, research analysts predict that Sysco Co. will post 4.6 EPS for the current fiscal 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 2.70%. Sysco’s dividend payout ratio is currently 49.76%.

Wall Street Analyst Weigh In

SYY has been the topic of several analyst reports. Barclays lifted their price target 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. Jefferies Financial Group upped their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Truist Financial cut their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Morgan Stanley decreased their target price 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. Finally, Bank of America reduced their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Sysco presently has an average rating of “Moderate Buy” and an average target price of $86.08.

Sysco Company 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.