Fulton Bank N.A. Purchases 256 Shares of Sysco Co. (NYSE:SYY)

Fulton Bank N.A. grew its position in shares of Sysco Co. (NYSE:SYYFree Report) by 9.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,085 shares of the company’s stock after buying an additional 256 shares during the quarter. Fulton Bank N.A.’s holdings in Sysco were worth $250,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. First United Bank & Trust bought a new stake in shares of Sysco in the 4th quarter worth approximately $26,000. AdvisorNet Financial Inc raised its holdings in shares of Sysco by 74.0% in the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after purchasing an additional 159 shares during the period. Burkett Financial Services LLC bought a new stake in shares of Sysco in the 4th quarter worth approximately $30,000. Headlands Technologies LLC bought a new stake in shares of Sysco in the 4th quarter worth approximately $34,000. Finally, JFS Wealth Advisors LLC raised its holdings in shares of Sysco by 39.3% in the 4th quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 141 shares during the period. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Up 0.8 %

Shares of Sysco stock opened at $73.35 on Friday. The company has a market cap of $36.53 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 2.09 and a beta of 1.17. The company’s 50 day moving average is $74.22 and its 200 day moving average is $76.40. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77.

Sysco (NYSE:SYYGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The company had revenue of $19.38 billion for the quarter, compared to the consensus estimate of $19.74 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts anticipate that Sysco Co. will post 4.3 EPS for the current year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, July 5th. This is an increase from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a yield of 2.78%. Sysco’s dividend payout ratio (DPR) is presently 48.78%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SYY shares. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, May 28th. Morgan Stanley reduced their price objective on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, May 23rd. Truist Financial reduced their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Barclays reduced their price objective on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Finally, UBS Group reduced their price objective on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $85.10.

Get Our Latest Research Report on Sysco

Sysco Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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