Oak Thistle LLC Acquires 716 Shares of Sysco Co. (NYSE:SYY)

Oak Thistle LLC increased its holdings in Sysco Co. (NYSE:SYY) by 24.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,653 shares of the company’s stock after acquiring an additional 716 shares during the quarter. Oak Thistle LLC’s holdings in Sysco were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. ORG Partners LLC increased its stake in shares of Sysco by 3,159.0% in the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after acquiring an additional 6,855 shares in the last quarter. Bridgefront Capital LLC bought a new position in shares of Sysco in the 4th quarter worth about $841,000. Nebula Research & Development LLC bought a new position in shares of Sysco in the 4th quarter worth about $916,000. Artisan Partners Limited Partnership increased its stake in Sysco by 11.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 597,216 shares of the company’s stock valued at $43,674,000 after purchasing an additional 62,556 shares in the last quarter. Finally, Mizuho Markets Americas LLC increased its stake in Sysco by 102.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock valued at $11,355,000 after purchasing an additional 70,660 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on SYY. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Barclays raised their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Morgan Stanley reduced their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Finally, Truist Financial reduced their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $85.27.

Sysco Stock Performance

SYY opened at $78.50 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The company has a market cap of $38.58 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 2.05 and a beta of 1.20. The company’s 50 day moving average is $74.94 and its 200 day moving average is $75.76. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.34 earnings per share. On average, equities research analysts predict that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Friday, October 4th. Sysco’s payout ratio is 49.76%.

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.