Creative Planning Has $15.37 Million Holdings in Sysco Co. (NYSE:SYY)

Creative Planning grew its stake in Sysco Co. (NYSE:SYY) by 3.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 196,876 shares of the company’s stock after buying an additional 6,814 shares during the quarter. Creative Planning’s holdings in Sysco were worth $15,368,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. TruNorth Capital Management LLC acquired a new position in shares of Sysco in the second quarter valued at about $25,000. Armstrong Advisory Group Inc. grew its stake in shares of Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares in the last quarter. Fairscale Capital LLC acquired a new position in shares of Sysco in the second quarter valued at about $38,000. LRI Investments LLC acquired a new stake in Sysco during the first quarter worth about $45,000. Finally, ESL Trust Services LLC acquired a new stake in Sysco during the first quarter worth about $49,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Down 1.1 %

Shares of NYSE SYY opened at $74.71 on Tuesday. The company has a 50 day simple moving average of $76.54 and a 200 day simple moving average of $74.84. The firm has a market cap of $36.70 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20. Sysco Co. has a 1 year low of $64.28 and a 1 year high of $82.89. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69.

Sysco (NYSE:SYY) last issued its quarterly earnings data 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 business had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business earned $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. Shareholders of record on Friday, October 4th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.73%. Sysco’s payout ratio is 52.44%.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of analyst reports. Barclays increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley reduced their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Bank of America reduced their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Finally, Jefferies Financial Group raised their price target on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.