Wealthsource Partners LLC purchased a new stake in shares of Sysco Co. (NYSE:SYY – Get Rating) in the third quarter, HoldingsChannel.com reports. The fund purchased 5,475 shares of the company’s stock, valued at approximately $387,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of SYY. Ceredex Value Advisors LLC acquired a new stake in shares of Sysco during the 3rd quarter valued at approximately $86,016,000. Renaissance Technologies LLC raised its position in shares of Sysco by 660.7% during the 3rd quarter. Renaissance Technologies LLC now owns 1,374,500 shares of the company’s stock worth $97,191,000 after purchasing an additional 1,193,800 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Sysco by 27.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,187,525 shares of the company’s stock worth $439,437,000 after purchasing an additional 1,111,654 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Sysco by 14.9% during the 3rd quarter. Victory Capital Management Inc. now owns 7,369,863 shares of the company’s stock worth $521,123,000 after purchasing an additional 953,110 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of Sysco by 95.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,642,830 shares of the company’s stock worth $116,165,000 after purchasing an additional 803,346 shares during the last quarter. 81.18% of the stock is currently owned by institutional investors and hedge funds.
Sysco Stock Up 1.1 %
Shares of NYSE:SYY opened at $74.66 on Wednesday. The stock has a 50-day simple moving average of $77.27 and a 200-day simple moving average of $79.20. The stock has a market capitalization of $37.90 billion, a P/E ratio of 26.95, a PEG ratio of 1.42 and a beta of 1.10. Sysco Co. has a 1 year low of $70.61 and a 1 year high of $91.53. The company has a debt-to-equity ratio of 7.20, a quick ratio of 0.68 and a current ratio of 1.24.
Sysco Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Thursday, April 6th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Wednesday, April 5th. Sysco’s dividend payout ratio is presently 70.76%.
Analysts Set New Price Targets
Several research analysts recently issued reports on the company. Truist Financial cut their price objective on Sysco from $92.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, February 1st. Argus downgraded Sysco from a “buy” rating to a “hold” rating in a report on Thursday, February 2nd. Morgan Stanley cut their price target on Sysco from $87.00 to $86.00 and set an “equal weight” rating for the company in a report on Wednesday, February 1st. Barclays cut their price target on Sysco from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, February 1st. Finally, StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Friday, March 10th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.67.
Sysco Company Profile
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.
- Get a free copy of the StockNews.com research report on Sysco (SYY)
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