Fulton Bank N.A. Raises Stock Position in Sysco Co. (NYSE:SYY)

Fulton Bank N.A. grew its holdings in Sysco Co. (NYSE:SYY) by 123.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,012 shares of the company’s stock after acquiring an additional 3,872 shares during the period. Fulton Bank N.A.’s holdings in Sysco were worth $547,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Diversified Trust Co bought a new stake in shares of Sysco during the third quarter valued at approximately $209,000. GAMMA Investing LLC increased its holdings in Sysco by 23.9% in the 3rd quarter. GAMMA Investing LLC now owns 5,738 shares of the company’s stock valued at $448,000 after acquiring an additional 1,107 shares during the last quarter. Czech National Bank lifted its stake in Sysco by 5.6% in the 3rd quarter. Czech National Bank now owns 100,176 shares of the company’s stock worth $7,820,000 after purchasing an additional 5,281 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Sysco by 3.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 285,695 shares of the company’s stock valued at $22,301,000 after purchasing an additional 10,530 shares during the last quarter. Finally, Wright Investors Service Inc. grew its position in shares of Sysco by 172.9% during the third quarter. Wright Investors Service Inc. now owns 33,176 shares of the company’s stock valued at $2,590,000 after purchasing an additional 21,020 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Truist Financial decreased their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Morgan Stanley lowered their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Jefferies Financial Group boosted 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 upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and an average target price of $86.08.

Sysco Stock Up 0.8 %

SYY stock opened at $75.32 on Wednesday. Sysco Co. has a one year low of $62.40 and a one year high of $82.89. 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’s fifty day moving average is $76.68 and its 200 day moving average is $75.22. The firm has a market cap 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 (NYSE:SYY) last announced 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. 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%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.34 EPS. On average, research analysts forecast that Sysco Co. will post 4.6 EPS for the current year.

Sysco Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Friday, October 4th. 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.