Callan Family Office LLC Buys 740 Shares of Sysco Co. (NYSE:SYY)

Callan Family Office LLC increased its stake in shares of Sysco Co. (NYSE:SYY) by 25.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,702 shares of the company’s stock after purchasing an additional 740 shares during the quarter. Callan Family Office LLC’s holdings in Sysco were worth $289,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SYY. Capital World Investors grew its position in Sysco by 17.5% in the 1st quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock valued at $891,758,000 after acquiring an additional 1,637,232 shares during the last quarter. Ameriprise Financial Inc. grew its position in Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after acquiring an additional 1,782,180 shares during the last quarter. Capital Research Global Investors grew its position in Sysco by 112.8% in the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after acquiring an additional 3,504,740 shares during the last quarter. Diamond Hill Capital Management Inc. grew 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 valued at $429,240,000 after acquiring an additional 1,997,895 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in Sysco by 103.0% in the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after acquiring an additional 2,408,226 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Up 0.8 %

Shares of SYY stock opened at $75.32 on Wednesday. The stock’s 50-day simple moving average is $76.68 and its 200-day simple moving average is $75.22. 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 has a market capitalization of $37.00 billion, a PE ratio of 18.37, a P/E/G ratio of 1.96 and a beta of 1.20. Sysco Co. has a fifty-two week low of $62.40 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last posted 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. The firm had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. Sysco’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $1.34 earnings per share. Equities analysts expect that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Announces Dividend

The firm 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 $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s payout ratio is currently 49.76%.

Analysts Set New Price Targets

Several brokerages have commented on SYY. Morgan Stanley cut their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Jefferies Financial Group upped their target price on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Truist Financial lowered their target price on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. Finally, Bank of America lowered their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.08.

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.