B. Riley Wealth Advisors Inc. Buys 32,241 Shares of Sysco Co. (NYSE:SYY)

B. Riley Wealth Advisors Inc. lifted its stake in Sysco Co. (NYSE:SYY – Get Rating) by 592.8% in the third quarter, Holdings Channel.com reports. The fund owned 37,680 shares of the company’s stock after purchasing an additional 32,241 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Sysco were worth $2,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Eagle Bay Advisors LLC purchased a new stake in shares of Sysco in the second quarter worth $81,000. Tower Research Capital LLC TRC raised its position in shares of Sysco by 1.9% in the third quarter. Tower Research Capital LLC TRC now owns 38,509 shares of the company’s stock worth $2,723,000 after buying an additional 725 shares in the last quarter. Parsons Capital Management Inc. RI raised its position in shares of Sysco by 1.5% in the third quarter. Parsons Capital Management Inc. RI now owns 25,195 shares of the company’s stock worth $1,782,000 after buying an additional 382 shares in the last quarter. King Luther Capital Management Corp raised its position in shares of Sysco by 22.5% in the second quarter. King Luther Capital Management Corp now owns 51,665 shares of the company’s stock worth $4,377,000 after buying an additional 9,474 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its position in shares of Sysco by 2.6% in the second quarter. Mutual of America Capital Management LLC now owns 69,609 shares of the company’s stock worth $5,897,000 after buying an additional 1,740 shares in the last quarter. 81.18% of the stock is owned by institutional investors.

Sysco Stock Down 2.1 %

NYSE SYY opened at $72.94 on Friday. The company has a debt-to-equity ratio of 7.20, a current ratio of 1.24 and a quick ratio of 0.68. The stock has a market capitalization of $37.02 billion, a PE ratio of 26.33, a PEG ratio of 1.45 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 business’s 50-day moving average is $77.09 and its 200 day moving average is $79.07.

Sysco (NYSE:SYY – Get Rating) last posted its earnings results on Tuesday, January 31st. The company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.04). The business had revenue of $18.59 billion during the quarter, compared to the consensus estimate of $18.59 billion. Sysco had a return on equity of 140.94% and a net margin of 1.93%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 earnings per share. Sell-side analysts forecast that Sysco Co. will post 4.04 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Thursday, April 6th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a $1.96 annualized dividend and a dividend yield of 2.69%. Sysco’s payout ratio is presently 70.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 10th. Credit Suisse Group lowered their price target on Sysco from $100.00 to $94.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 1st. Deutsche Bank Aktiengesellschaft lowered their price target on Sysco from $83.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, February 1st. Stephens restated an “overweight” rating and set a $90.00 price target on shares of Sysco in a research report on Friday, January 13th. Finally, Barclays lowered their price target on Sysco from $92.00 to $87.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 1st. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and a consensus price target of $89.67.

Sysco Company Profile

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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.