Mather Group LLC. boosted its stake in shares of Sysco Co. (NYSE:SYY – Get Rating) by 29.7% during the third quarter, HoldingsChannel.com reports. The firm owned 7,106 shares of the company’s stock after acquiring an additional 1,626 shares during the period. Mather Group LLC.’s holdings in Sysco were worth $502,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of SYY. Eagle Bay Advisors LLC purchased a new position in shares of Sysco in the 2nd quarter valued at $81,000. Tower Research Capital LLC TRC grew its holdings in Sysco by 1.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 38,509 shares of the company’s stock valued at $2,723,000 after purchasing an additional 725 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Sysco by 8.5% during the 2nd quarter. Principal Financial Group Inc. now owns 662,596 shares of the company’s stock valued at $56,129,000 after purchasing an additional 51,782 shares in the last quarter. Parsons Capital Management Inc. RI grew its holdings in Sysco by 1.5% during the 3rd quarter. Parsons Capital Management Inc. RI now owns 25,195 shares of the company’s stock valued at $1,782,000 after purchasing an additional 382 shares in the last quarter. Finally, King Luther Capital Management Corp grew its holdings in Sysco by 22.5% during the 2nd quarter. King Luther Capital Management Corp now owns 51,665 shares of the company’s stock valued at $4,377,000 after purchasing an additional 9,474 shares in the last quarter. Hedge funds and other institutional investors own 81.18% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Bank of America assumed coverage on shares of Sysco in a report on Thursday, March 9th. They set a “buy” rating and a $90.00 price target for the company. BMO Capital Markets decreased their price objective on shares of Sysco from $96.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, February 1st. TheStreet lowered shares of Sysco from a “b” rating to a “c+” rating in a report on Tuesday, January 31st. Truist Financial decreased their price objective on shares of Sysco from $92.00 to $88.00 and set a “buy” rating for the company in a report on Wednesday, February 1st. Finally, Barclays decreased their price objective on shares of Sysco from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, February 1st. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.67.
Sysco Trading Up 1.1 %
Sysco (NYSE:SYY – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.04). The firm had revenue of $18.59 billion during the quarter, compared to the consensus estimate of $18.59 billion. Sysco had a net margin of 1.93% and a return on equity of 140.94%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 earnings per share. Sell-side analysts anticipate that Sysco Co. will post 4.04 earnings per share for the current year.
Sysco Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Thursday, April 6th will be given a dividend of $0.49 per share. The ex-dividend date is Wednesday, April 5th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.63%. Sysco’s dividend payout ratio (DPR) is 70.76%.
Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.
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