Rehmann Capital Advisory Group Increases Stock Holdings in Sysco Co. (NYSE:SYY)

Rehmann Capital Advisory Group raised its stake in Sysco Co. (NYSE:SYY) by 19.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,827 shares of the company’s stock after purchasing an additional 2,072 shares during the period. Rehmann Capital Advisory Group’s holdings in Sysco were worth $1,041,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. First United Bank & Trust purchased a new position in Sysco in the fourth quarter valued at approximately $26,000. Verity & Verity LLC purchased a new position in shares of Sysco during the first quarter worth approximately $26,000. AdvisorNet Financial Inc grew its position in shares of Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after acquiring an additional 159 shares during the last quarter. Burkett Financial Services LLC purchased a new position in shares of Sysco during the fourth quarter worth approximately $30,000. Finally, OFI Invest Asset Management purchased a new position in shares of Sysco during the first quarter worth approximately $31,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Truist Financial lowered their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Tuesday, May 28th. Finally, Piper Sandler lowered their price objective on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.90.

Sysco Price Performance

Sysco stock traded up $0.13 during midday trading on Wednesday, reaching $69.29. The company’s stock had a trading volume of 1,125,129 shares, compared to its average volume of 3,125,066. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34. The stock’s 50 day simple moving average is $72.98 and its 200 day simple moving average is $76.23. The firm has a market capitalization of $34.51 billion, a PE ratio of 16.86, a P/E/G ratio of 1.87 and a beta of 1.18.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The company had revenue of $19.38 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same quarter last year, the company earned $0.90 earnings per share. Sysco’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Friday, July 5th. This is an increase from Sysco’s previous quarterly dividend of $0.50. Sysco’s payout ratio is 49.76%.

Sysco Company Profile

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.