BKM Wealth Management LLC Has $160,000 Stake in Sysco Co. (NYSE:SYY)

BKM Wealth Management LLC grew its stake in Sysco Co. (NYSE:SYY) by 242.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,965 shares of the company’s stock after purchasing an additional 1,391 shares during the period. BKM Wealth Management LLC’s holdings in Sysco were worth $160,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Chicago Partners Investment Group LLC lifted its holdings in shares of Sysco by 1.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock worth $536,000 after acquiring an additional 124 shares during the period. Hunter Associates Investment Management LLC lifted its holdings in shares of Sysco by 1.5% during the 4th quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock worth $606,000 after acquiring an additional 125 shares during the period. Bell Investment Advisors Inc lifted its holdings in shares of Sysco by 8.2% during the 4th quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock worth $126,000 after acquiring an additional 131 shares during the period. Beacon Investment Advisors LLC lifted its holdings in shares of Sysco by 0.5% during the 4th quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock worth $1,805,000 after acquiring an additional 133 shares during the period. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of Sysco by 6.4% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock worth $165,000 after acquiring an additional 135 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Trading Down 2.1 %

Shares of NYSE SYY opened at $69.88 on Tuesday. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89. The company has a market cap of $34.80 billion, a PE ratio of 17.04, a P/E/G ratio of 2.05 and a beta of 1.18. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. The company has a 50-day moving average of $73.94 and a two-hundred day moving average of $76.41.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The company had revenue of $19.38 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. As a group, equities analysts expect that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be given a dividend of $0.51 per share. This is a boost from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. This represents a $2.04 annualized dividend and a dividend yield of 2.92%. Sysco’s payout ratio is currently 48.78%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SYY shares. JPMorgan Chase & Co. reduced their price objective on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. BMO Capital Markets cut their price target on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Piper Sandler cut their price target on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a report on Tuesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $84.90.

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.