LPL Financial LLC Has $36.17 Million Stock Position in Sysco Co. (NYSE:SYY)

LPL Financial LLC lifted its holdings in shares of Sysco Co. (NYSE:SYY) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 506,653 shares of the company’s stock after purchasing an additional 6,132 shares during the quarter. LPL Financial LLC owned approximately 0.10% of Sysco worth $36,170,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Chicago Partners Investment Group LLC increased its stake 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 purchasing an additional 124 shares during the last quarter. Bell Investment Advisors Inc grew its stake in Sysco by 8.2% in the 4th quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock valued at $126,000 after buying an additional 131 shares during the last quarter. Beacon Investment Advisors LLC grew its stake in Sysco by 0.5% in the 4th quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock valued at $1,805,000 after buying an additional 133 shares during the last quarter. Plimoth Trust Co. LLC grew its stake in Sysco by 0.6% in the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after buying an additional 139 shares during the last quarter. Finally, Meeder Advisory Services Inc. grew its stake in Sysco by 1.7% in the 1st quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock valued at $679,000 after buying an additional 141 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SYY. JPMorgan Chase & Co. lowered their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. BMO Capital Markets decreased their price target on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Truist Financial dropped their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Finally, Morgan Stanley dropped their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Two 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.27.

Sysco Price Performance

Shares of Sysco stock opened at $76.52 on Monday. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The firm’s 50-day simple moving average is $75.34 and its 200-day simple moving average is $75.66. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The firm has a market cap of $37.61 billion, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. During the same period in the previous year, the business earned $1.34 EPS. The firm’s revenue was up 4.2% on a year-over-year basis. As a group, research analysts expect that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.67%. Sysco’s dividend payout ratio (DPR) is presently 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.