Boston Research & Management Inc. Has $4.35 Million Stake in Sysco Co. (NYSE:SYY)

Boston Research & Management Inc. increased its stake in shares of Sysco Co. (NYSE:SYY) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,890 shares of the company’s stock after purchasing an additional 1,175 shares during the quarter. Boston Research & Management Inc.’s holdings in Sysco were worth $4,346,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYY. Capital World Investors increased its stake in shares of Sysco by 17.5% in the first quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock worth $891,758,000 after acquiring an additional 1,637,232 shares during the last quarter. Capital Research Global Investors boosted its position in Sysco by 112.8% during the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after purchasing an additional 3,504,740 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in Sysco by 49.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after purchasing an additional 1,997,895 shares during the last quarter. Primecap Management Co. CA increased its position in Sysco by 37.5% in the 2nd quarter. Primecap Management Co. CA now owns 4,373,485 shares of the company’s stock worth $312,223,000 after purchasing an additional 1,192,650 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Sysco by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,701,385 shares of the company’s stock worth $264,262,000 after purchasing an additional 359,640 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Tuesday, May 28th. Truist Financial dropped their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Bank of America reduced their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. JPMorgan Chase & Co. increased their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Morgan Stanley cut their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Sysco presently has an average rating of “Moderate Buy” and a consensus price target of $85.55.

Sysco Trading Up 1.4 %

Sysco stock opened at $75.19 on Friday. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The stock has a market cap of $37.44 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20. The business has a 50 day moving average price of $75.87 and a two-hundred day moving average price of $75.57. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19.

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

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.71%. Sysco’s payout ratio is presently 49.76%.

Sysco 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.