Edgestream Partners L.P. Invests $1.39 Million in Sysco Co. (NYSE:SYY)

Edgestream Partners L.P. bought a new position in Sysco Co. (NYSE:SYY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 18,740 shares of the company’s stock, valued at approximately $1,391,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Brinker Capital Investments LLC boosted its position in shares of Sysco by 3.2% in the first quarter. Brinker Capital Investments LLC now owns 3,851 shares of the company’s stock worth $314,000 after buying an additional 121 shares during the period. Geller Advisors LLC boosted its position in Sysco by 4.2% during the first quarter. Geller Advisors LLC now owns 3,362 shares of the company’s stock valued at $276,000 after purchasing an additional 136 shares during the last quarter. Red Door Wealth Management LLC boosted its position in Sysco by 4.3% during the first quarter. Red Door Wealth Management LLC now owns 3,328 shares of the company’s stock valued at $257,000 after purchasing an additional 137 shares during the last quarter. Independence Bank of Kentucky boosted its position in Sysco by 9.7% during the second quarter. Independence Bank of Kentucky now owns 1,585 shares of the company’s stock valued at $118,000 after purchasing an additional 140 shares during the last quarter. Finally, Accretive Wealth Partners LLC boosted its position in Sysco by 0.7% during the first quarter. Accretive Wealth Partners LLC now owns 21,036 shares of the company’s stock valued at $1,625,000 after purchasing an additional 144 shares during the last quarter. Institutional investors and hedge funds own 80.60% of the company’s stock.

Sysco Stock Up 0.5 %

Shares of SYY opened at $71.27 on Tuesday. The company has a market capitalization of $35.95 billion, a P/E ratio of 20.08, a PEG ratio of 1.43 and a beta of 1.13. The company has a debt-to-equity ratio of 5.04, a current ratio of 1.29 and a quick ratio of 0.74. Sysco Co. has a one year low of $62.24 and a one year high of $87.21. The business’s 50 day simple moving average is $66.81 and its 200-day simple moving average is $70.65.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.05. Sysco had a return on equity of 117.17% and a net margin of 2.35%. The firm had revenue of $19.62 billion for the quarter, compared to the consensus estimate of $19.73 billion. During the same quarter in the prior year, the business earned $0.97 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that Sysco Co. will post 4.32 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 5th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.81%. The ex-dividend date is Thursday, January 4th. Sysco’s dividend payout ratio is 56.34%.

Analysts Set New Price Targets

SYY has been the subject of a number of research reports. Stephens reduced their price objective on Sysco from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, November 1st. Morgan Stanley lifted their price objective on Sysco from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 1st. Barclays dropped their price objective on Sysco from $86.00 to $77.00 and set an “overweight” rating on the stock in a research note on Monday, October 23rd. Truist Financial lowered their price target on Sysco from $88.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, August 2nd. Finally, StockNews.com began coverage on Sysco in a research note on Thursday, October 5th. They set a “strong-buy” rating on the stock. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and an average price target of $83.30.

About Sysco

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.