Mitchell & Pahl Private Wealth LLC Buys 820 Shares of Sysco Co. (NYSE:SYY)

Mitchell & Pahl Private Wealth LLC lifted its stake in Sysco Co. (NYSE:SYY) by 4.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,050 shares of the company’s stock after buying an additional 820 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in Sysco were worth $1,565,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. ORG Partners LLC lifted its holdings in Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after purchasing an additional 6,855 shares in the last quarter. Mizuho Markets Americas LLC boosted its holdings in Sysco by 102.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after buying an additional 70,660 shares during the period. Wedge Capital Management L L P NC boosted its holdings in Sysco by 11.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock worth $12,577,000 after buying an additional 18,296 shares during the period. Diversify Advisory Services LLC purchased a new stake in Sysco in the 1st quarter worth $1,677,000. Finally, Shell Asset Management Co. raised its holdings in Sysco by 205.0% during the first quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock valued at $1,161,000 after acquiring an additional 9,615 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Sysco Price Performance

Shares of Sysco stock traded down $0.50 during trading hours on Thursday, reaching $75.27. The company’s stock had a trading volume of 528,582 shares, compared to its average volume of 3,157,364. The firm has a 50 day moving average price of $76.56 and a 200-day moving average price of $74.96. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The stock has a market cap of $36.98 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.96 and a beta of 1.20. Sysco Co. has a one year low of $64.28 and a one year high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.01. The company had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 earnings per share. On average, analysts predict that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.71%. Sysco’s dividend payout ratio is presently 52.44%.

Analysts Set New Price Targets

SYY has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price objective on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Truist Financial cut their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. Bank of America lowered their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Barclays lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $86.08.

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.