Sysco Co. (NYSE:SYY) Shares Bought by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC grew its stake in Sysco Co. (NYSE:SYY) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,146 shares of the company’s stock after buying an additional 599 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Sysco were worth $1,807,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SYY. TruNorth Capital Management LLC acquired a new position in Sysco in the second quarter valued at approximately $25,000. Armstrong Advisory Group Inc. lifted its stake in shares of Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares during the period. OFI Invest Asset Management purchased a new stake in Sysco during the first quarter worth $31,000. Fairscale Capital LLC acquired a new stake in Sysco during the second quarter valued at $38,000. Finally, LRI Investments LLC purchased a new position in Sysco in the first quarter valued at $45,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 1.1 %

Sysco stock traded down $0.83 during midday trading on Monday, hitting $74.71. 2,397,812 shares of the stock were exchanged, compared to its average volume of 3,160,031. The stock has a market capitalization of $36.70 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.97 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 stock’s 50-day simple moving average is $76.55 and its 200 day simple moving average is $74.85. Sysco Co. has a fifty-two week low of $64.28 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share 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 analysts’ expectations of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.34 earnings per share. On average, equities analysts anticipate that Sysco Co. will post 4.6 EPS for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued 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 2.73%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SYY. 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 research note on Thursday, July 18th. Morgan Stanley dropped 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. JPMorgan Chase & Co. upped their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Truist Financial reduced their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. 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. According to data from MarketBeat.com, the company currently has an average 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.