Sysco Co. (NYSE:SYY) Shares Acquired by Benjamin Edwards Inc.

Benjamin Edwards Inc. increased its position in shares of Sysco Co. (NYSE:SYY) by 2.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,159 shares of the company’s stock after acquiring an additional 202 shares during the quarter. Benjamin Edwards Inc.’s holdings in Sysco were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of SYY. Chicago Partners Investment Group LLC boosted its holdings in Sysco by 1.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock valued at $536,000 after purchasing an additional 124 shares during the last quarter. Bell Investment Advisors Inc lifted its holdings in Sysco by 8.2% in the fourth quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock valued at $126,000 after acquiring an additional 131 shares during the last quarter. Beacon Investment Advisors LLC grew its position in Sysco by 0.5% in the fourth 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. Plimoth Trust Co. LLC increased its stake in Sysco by 0.6% during the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after acquiring an additional 139 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its position in Sysco by 1.7% in the first quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock valued at $679,000 after purchasing an additional 141 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of research analyst reports. Barclays increased their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Tuesday, May 28th. Morgan Stanley reduced their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. JPMorgan Chase & Co. lifted their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Truist Financial decreased their price target on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and a consensus target price of $85.55.

Sysco Stock Performance

Shares of SYY stock opened at $75.19 on Friday. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The firm has a 50 day moving average of $75.87 and a two-hundred day moving average 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. The stock has a market capitalization of $37.44 billion, a PE ratio of 18.34, a P/E/G ratio of 2.01 and a beta of 1.20.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $20.51 billion. During the same period last year, the business posted $1.34 earnings per share. Sysco’s revenue was up 4.2% compared to the same quarter last year. On average, research analysts predict that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be paid a dividend of $0.51 per share. The ex-dividend date 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 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.