Walter Public Investments Inc. Boosts Stock Position in Sysco Co. (NYSE:SYY)

Walter Public Investments Inc. increased its stake in shares of Sysco Co. (NYSE:SYY) by 40.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 133,752 shares of the company’s stock after buying an additional 38,246 shares during the quarter. Walter Public Investments Inc.’s holdings in Sysco were worth $9,549,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Accretive Wealth Partners LLC boosted its position in shares of Sysco by 1.0% during the 4th quarter. Accretive Wealth Partners LLC now owns 21,788 shares of the company’s stock valued at $1,593,000 after acquiring an additional 212 shares during the last quarter. Gryphon Financial Partners LLC raised its stake in Sysco by 55.0% during the fourth quarter. Gryphon Financial Partners LLC now owns 4,817 shares of the company’s stock worth $352,000 after purchasing an additional 1,710 shares during the period. Panagora Asset Management Inc. boosted its holdings in Sysco by 8.6% in the 4th quarter. Panagora Asset Management Inc. now owns 19,344 shares of the company’s stock valued at $1,415,000 after purchasing an additional 1,531 shares during the last quarter. NorthRock Partners LLC purchased a new stake in shares of Sysco in the 4th quarter valued at approximately $291,000. Finally, Financial Advocates Investment Management increased its holdings in shares of Sysco by 7.5% during the 4th quarter. Financial Advocates Investment Management now owns 8,001 shares of the company’s stock worth $585,000 after buying an additional 555 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Morgan Stanley decreased their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Bank of America lowered their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Barclays boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Two 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.27.

Sysco Stock Down 0.6 %

Shares of NYSE SYY opened at $76.52 on Monday. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The stock has a market cap of $38.11 billion, a P/E ratio of 18.66, a PEG ratio of 2.01 and a beta of 1.20. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The business’s fifty day simple moving average is $75.34 and its 200-day simple moving average is $75.66.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. During the same quarter last year, the business posted $1.34 EPS. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts predict that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.67%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

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.