Bleakley Financial Group LLC Acquires 596 Shares of Sysco Co. (NYSE:SYY)

Bleakley Financial Group LLC raised its position in shares of Sysco Co. (NYSE:SYY) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 37,656 shares of the company’s stock after purchasing an additional 596 shares during the quarter. Bleakley Financial Group LLC’s holdings in Sysco were worth $3,057,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Professional Advisory Services Inc. bought a new stake in shares of Sysco during the 4th quarter valued at about $20,057,000. Harbour Trust & Investment Management Co purchased a new position in shares of Sysco during the 4th quarter valued at about $4,623,000. Pacer Advisors Inc. lifted its position in shares of Sysco by 40.1% during the 4th quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock valued at $6,014,000 after buying an additional 23,558 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Sysco by 16.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock valued at $21,865,000 after buying an additional 41,618 shares in the last quarter. Finally, Bridgefront Capital LLC purchased a new position in shares of Sysco during the 4th quarter valued at about $841,000. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SYY has been the topic of a number of analyst reports. Morgan Stanley lowered their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lowered their price objective on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. UBS Group lowered their price objective on Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Truist Financial lowered their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Finally, Piper Sandler lowered their price objective on Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.80.

Sysco Price Performance

NYSE SYY traded up $2.02 during trading hours on Wednesday, reaching $75.05. The company’s stock had a trading volume of 3,012,727 shares, compared to its average volume of 3,112,088. The firm’s 50-day moving average price is $72.66 and its 200-day moving average price is $76.18. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The company has a market capitalization of $37.37 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 1.93 and a beta of 1.18.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The business had revenue of $19.38 billion for the quarter, compared to the consensus estimate of $19.74 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.72%. This is a boost from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio is currently 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.