Sanctuary Advisors LLC Makes New Investment in Sysco Co. (NYSE:SYY)

Sanctuary Advisors LLC bought a new stake in Sysco Co. (NYSE:SYY) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 88,581 shares of the company’s stock, valued at approximately $6,827,000.

Other hedge funds have also made changes to their positions in the company. ORG Partners LLC increased its stake in Sysco by 3,159.0% in the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after buying an additional 6,855 shares during the period. Bridgefront Capital LLC acquired a new stake in Sysco during the fourth quarter valued at $841,000. Nebula Research & Development LLC acquired a new stake in Sysco during the fourth quarter valued at $916,000. Mizuho Markets Americas LLC grew its stake in Sysco by 102.1% in the first 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. Finally, Wedge Capital Management L L P NC increased its position in Sysco by 11.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock worth $12,577,000 after purchasing an additional 18,296 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Price Performance

Shares of NYSE:SYY opened at $75.41 on Friday. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The company has a market cap of $37.07 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.02 and a beta of 1.20. The business has a 50 day moving average price of $76.65 and a 200 day moving average price of $75.35. 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 announced its earnings results 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 business had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. Sysco’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.34 earnings per share. Research analysts predict that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Announces Dividend

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 given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

Wall Street Analysts Forecast Growth

SYY has been the subject of several recent research reports. Jefferies Financial Group boosted their price target on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Truist Financial decreased their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Barclays raised their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Finally, StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Sysco presently has an average rating of “Moderate Buy” and an average price target of $86.08.

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.