IFP Advisors Inc grew its position in shares of SYSCO Co. (NYSE:SYY) by 18.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,547 shares of the company’s stock after acquiring an additional 541 shares during the quarter. IFP Advisors Inc’s holdings in SYSCO were worth $193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new position in SYSCO during the 2nd quarter worth $32,000. Westside Investment Management Inc. purchased a new position in shares of SYSCO in the 1st quarter worth about $29,000. Balentine LLC purchased a new position in shares of SYSCO in the 1st quarter worth about $31,000. Key Financial Inc purchased a new position in shares of SYSCO in the 1st quarter worth about $34,000. Finally, Shine Investment Advisory Services Inc. boosted its holdings in shares of SYSCO by 369.9% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 874 shares of the company’s stock worth $48,000 after buying an additional 688 shares during the last quarter. 79.35% of the stock is currently owned by hedge funds and other institutional investors.
SYY has been the topic of a number of research analyst reports. BMO Capital Markets boosted their price target on shares of SYSCO from $51.00 to $60.00 and gave the stock a “market perform” rating in a report on Wednesday, August 12th. Credit Suisse Group initiated coverage on shares of SYSCO in a report on Wednesday, August 5th. They issued a “buy” rating and a $65.00 price target on the stock. Wells Fargo & Co raised shares of SYSCO from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $50.00 to $70.00 in a report on Friday, June 5th. Jefferies Financial Group cut their price target on shares of SYSCO from $66.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Finally, Piper Sandler reissued a “buy” rating and issued a $64.00 price target on shares of SYSCO in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $70.30.
NYSE SYY opened at $59.70 on Tuesday. The company has a market cap of $30.30 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 2.31 and a beta of 1.09. SYSCO Co. has a 52 week low of $26.00 and a 52 week high of $85.98. The company has a quick ratio of 0.93, a current ratio of 1.49 and a debt-to-equity ratio of 5.21. The firm’s 50-day simple moving average is $54.86 and its two-hundred day simple moving average is $56.76.
SYSCO (NYSE:SYY) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.29) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.01. The business had revenue of $8.87 billion for the quarter, compared to the consensus estimate of $10.12 billion. SYSCO had a net margin of 2.30% and a return on equity of 73.70%. The company’s revenue was down 42.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 earnings per share. As a group, equities research analysts anticipate that SYSCO Co. will post 1.97 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Thursday, July 2nd were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Wednesday, July 1st. SYSCO’s dividend payout ratio is presently 50.70%.
SYSCO Company Profile
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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