Sysco Co. (NYSE:SYY) Shares Acquired by Strategic Wealth Partners Ltd.

Strategic Wealth Partners Ltd. boosted its stake in shares of Sysco Co. (NYSE:SYY) by 25.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,541 shares of the company’s stock after purchasing an additional 15,708 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Sysco were worth $5,975,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its position in shares of Sysco by 112.8% during the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after acquiring an additional 3,504,740 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Sysco by 103.0% in the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after purchasing an additional 2,408,226 shares during the period. Swedbank AB bought a new stake in shares of Sysco during the first quarter valued at approximately $178,824,000. Diamond Hill Capital Management Inc. boosted its position in shares of Sysco by 49.8% during the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after buying an additional 1,997,895 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after buying an additional 1,782,180 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYY has been the topic of several recent analyst reports. Truist Financial cut their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Jefferies Financial Group upped their price objective on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Barclays boosted their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two investment 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 an average price target of $86.08.

Sysco Stock Performance

SYY opened at $75.32 on Wednesday. The business has a fifty day simple moving average of $76.65 and a 200-day simple moving average of $75.18. 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. 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 Co. has a fifty-two week low of $62.40 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Sysco’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.34 EPS. As a group, equities analysts predict that Sysco Co. will post 4.6 EPS for the current fiscal 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 $0.51 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.71%. Sysco’s dividend payout ratio (DPR) is presently 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.