Boston Financial Mangement LLC Boosts Stock Holdings in Sysco Co. (NYSE:SYY)

Boston Financial Mangement LLC boosted its stake in shares of Sysco Co. (NYSE:SYY) by 28.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,927 shares of the company’s stock after acquiring an additional 2,192 shares during the period. Boston Financial Mangement LLC’s holdings in Sysco were worth $775,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. TruNorth Capital Management LLC purchased a new position in Sysco during the second quarter valued at $25,000. Armstrong Advisory Group Inc. grew its stake in Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares in the last quarter. Fairscale Capital LLC purchased a new position in Sysco during the second quarter valued at $38,000. Canoe Financial LP purchased a new position in Sysco during the third quarter valued at $38,000. Finally, LRI Investments LLC purchased a new position in Sysco during the first quarter valued at $45,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Price Performance

Sysco stock opened at $74.17 on Wednesday. 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 $36.44 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20. The firm has a 50-day moving average of $76.34 and a two-hundred day moving average of $74.75. Sysco Co. has a 1 year low of $64.28 and a 1 year high of $82.89.

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

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were issued a $0.51 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.75%. Sysco’s payout ratio is 52.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Bank of America dropped 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, July 18th. JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Barclays lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Morgan Stanley dropped their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Finally, Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.08.

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.