Wealth Enhancement Advisory Services LLC Acquires 4,709 Shares of Sysco Co. (NYSE:SYY)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,434 shares of the company’s stock after acquiring an additional 4,709 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Sysco were worth $13,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Professional Advisory Services Inc. bought a new stake in shares of Sysco in the 4th quarter valued at about $20,057,000. Harbour Trust & Investment Management Co bought a new stake in shares of Sysco in the 4th quarter valued at about $4,623,000. Pacer Advisors Inc. boosted its holdings in shares of Sysco by 40.1% in 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 boosted its holdings in shares of Sysco by 16.2% in 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 bought a new stake in shares of Sysco in the 4th quarter valued at about $841,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Price Performance

NYSE:SYY opened at $71.39 on Friday. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. The firm has a market cap of $35.55 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 2.08 and a beta of 1.17. The company has a 50 day moving average price of $73.94 and a 200-day moving average price of $76.38. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. The firm had revenue of $19.38 billion during the quarter, compared to analyst estimates of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. Equities research analysts forecast that Sysco Co. will post 4.29 EPS for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a yield of 2.86%. This is a boost from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio (DPR) is currently 48.78%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SYY shares. Barclays decreased their price objective on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Tuesday, May 28th. Truist Financial decreased their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. JPMorgan Chase & Co. decreased their price objective on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Finally, BMO Capital Markets decreased their price objective on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.90.

About Sysco

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.