Sysco Co. (NYSE:SYY) Stock Position Increased by Steigerwald Gordon & Koch Inc.

Steigerwald Gordon & Koch Inc. raised its stake in shares of Sysco Co. (NYSE:SYY) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 196,128 shares of the company’s stock after buying an additional 3,927 shares during the period. Steigerwald Gordon & Koch Inc.’s holdings in Sysco were worth $15,310,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. TruNorth Capital Management LLC acquired a new stake in shares of Sysco during the second quarter worth approximately $25,000. OFI Invest Asset Management bought a new position in Sysco during the first quarter worth $31,000. Fairscale Capital LLC bought a new stake in Sysco in the 2nd quarter valued at $38,000. Fairman Group LLC bought a new stake in Sysco in the 4th quarter valued at $39,000. Finally, Livelsberger Financial Advisory bought a new stake in Sysco in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SYY. Jefferies Financial Group upped their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Truist Financial dropped their target price 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. JPMorgan Chase & Co. lifted their price objective 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, Barclays raised their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Stock Performance

NYSE:SYY traded down $0.61 during trading on Thursday, reaching $74.00. The company’s stock had a trading volume of 494,443 shares, compared to its average volume of 3,145,463. 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 cap of $36.35 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 1.96 and a beta of 1.20. Sysco Co. has a 12 month low of $62.45 and a 12 month high of $82.89. The firm has a 50 day moving average of $76.61 and a 200-day moving average of $75.17.

Sysco (NYSE:SYY) last released its quarterly 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. The firm had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.34 EPS. Research analysts expect that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders 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 dividend yield of 2.76%. Sysco’s dividend payout ratio is currently 49.76%.

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.