Sysco Co. (NYSE:SYY) Shares Bought by New England Research & Management Inc.

New England Research & Management Inc. grew its position in Sysco Co. (NYSE:SYY) by 38.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,394 shares of the company’s stock after acquiring an additional 9,560 shares during the quarter. Sysco comprises approximately 1.3% of New England Research & Management Inc.’s portfolio, making the stock its 20th biggest position. New England Research & Management Inc.’s holdings in Sysco were worth $2,685,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SYY. Chicago Partners Investment Group LLC increased its holdings in shares of Sysco by 1.8% in the fourth 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 period. Bell Investment Advisors Inc raised its position in Sysco by 8.2% during the 4th quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock worth $126,000 after buying an additional 131 shares during the last quarter. Plimoth Trust Co. LLC lifted its stake in shares of Sysco by 0.6% in the 2nd 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 period. Meeder Advisory Services Inc. increased its stake in shares of Sysco by 1.7% during the first quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock worth $679,000 after acquiring an additional 141 shares during the period. Finally, Tompkins Financial Corp raised its holdings in Sysco by 1.6% during the first quarter. Tompkins Financial Corp now owns 9,144 shares of the company’s stock worth $742,000 after purchasing an additional 144 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SYY has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Jefferies Financial Group increased their price objective on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. 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. Finally, Truist Financial lowered their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Price Performance

Shares of NYSE SYY traded down $0.68 during trading on Monday, reaching $74.73. The company had a trading volume of 2,481,035 shares, compared to its average volume of 3,167,936. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. Sysco Co. has a twelve month low of $62.40 and a twelve month high of $82.89. The stock has a 50-day moving average price of $76.65 and a two-hundred day moving average price of $75.27. The stock has a market capitalization of $36.73 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20.

Sysco (NYSE:SYY) last announced its 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 during the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.34 EPS. As a group, sell-side analysts predict that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

The firm 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 $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.73%. Sysco’s payout ratio is currently 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.