Steward Partners Investment Advisory LLC lifted its holdings in shares of SYSCO Co. (NYSE:SYY) by 3.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 20,844 shares of the company’s stock after purchasing an additional 783 shares during the period. Steward Partners Investment Advisory LLC’s holdings in SYSCO were worth $1,474,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in SYY. Dimensional Fund Advisors LP raised its stake in SYSCO by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,401,640 shares of the company’s stock worth $87,825,000 after purchasing an additional 54,838 shares during the period. Geode Capital Management LLC raised its stake in SYSCO by 20.5% during the fourth quarter. Geode Capital Management LLC now owns 6,331,895 shares of the company’s stock worth $396,070,000 after purchasing an additional 1,076,459 shares during the period. Manning & Napier Group LLC raised its stake in SYSCO by 28.4% during the first quarter. Manning & Napier Group LLC now owns 185,235 shares of the company’s stock worth $12,365,000 after purchasing an additional 40,934 shares during the period. 6 Meridian raised its stake in SYSCO by 6.4% during the first quarter. 6 Meridian now owns 7,620 shares of the company’s stock worth $509,000 after purchasing an additional 455 shares during the period. Finally, Pacer Advisors Inc. purchased a new position in SYSCO during the first quarter worth about $3,056,000. Institutional investors own 77.71% of the company’s stock.
Shares of SYSCO stock traded down $0.10 on Friday, reaching $70.53. The company had a trading volume of 822,961 shares, compared to its average volume of 2,648,803. The business has a 50 day simple moving average of $70.80. The stock has a market cap of $35.25 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 1.83 and a beta of 0.52. SYSCO Co. has a 52-week low of $59.44 and a 52-week high of $75.98. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 3.44.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Thursday, October 3rd. SYSCO’s dividend payout ratio (DPR) is currently 49.68%.
A number of equities analysts have commented on the stock. Buckingham Research lifted their target price on shares of SYSCO from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Morgan Stanley boosted their price target on shares of SYSCO from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 7th. Pivotal Research reissued a “sell” rating and issued a $58.00 price target (up from $54.00) on shares of SYSCO in a research note on Tuesday, May 7th. ValuEngine raised shares of SYSCO from a “hold” rating to a “buy” rating in a research note on Wednesday, May 29th. Finally, Consumer Edge initiated coverage on shares of SYSCO in a research note on Wednesday, July 17th. They issued an “underweight” rating and a $71.75 price target on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. SYSCO has a consensus rating of “Hold” and a consensus price target of $73.63.
SYSCO Company Profile
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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