Private Advisor Group LLC Increases Holdings in Sysco Co. (NYSE:SYY)

Private Advisor Group LLC raised its stake in shares of Sysco Co. (NYSE:SYY) by 3.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,908 shares of the company’s stock after buying an additional 1,193 shares during the quarter. Private Advisor Group LLC’s holdings in Sysco were worth $2,759,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Checchi Capital Advisers LLC raised its stake in Sysco by 3.5% during the second quarter. Checchi Capital Advisers LLC now owns 5,634 shares of the company’s stock valued at $418,000 after buying an additional 192 shares during the last quarter. Cetera Advisors LLC increased its holdings in shares of Sysco by 10.1% in the 2nd quarter. Cetera Advisors LLC now owns 25,482 shares of the company’s stock worth $1,891,000 after purchasing an additional 2,346 shares in the last quarter. Cetera Advisor Networks LLC increased its holdings in shares of Sysco by 8.8% in the 2nd quarter. Cetera Advisor Networks LLC now owns 128,047 shares of the company’s stock worth $9,501,000 after purchasing an additional 10,396 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Sysco by 146.9% in the 2nd quarter. Cetera Investment Advisers now owns 86,661 shares of the company’s stock worth $6,430,000 after purchasing an additional 51,563 shares in the last quarter. Finally, Burney Co. increased its holdings in shares of Sysco by 2.6% in the 2nd quarter. Burney Co. now owns 18,450 shares of the company’s stock worth $1,369,000 after purchasing an additional 472 shares in the last quarter. Hedge funds and other institutional investors own 80.60% of the company’s stock.

Sysco Trading Up 0.5 %

SYY stock opened at $71.27 on Tuesday. The company has a debt-to-equity ratio of 5.04, a current ratio of 1.29 and a quick ratio of 0.74. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $87.21. The business has a 50 day simple moving average of $66.81 and a two-hundred day simple moving average of $70.65. The company has a market capitalization of $35.95 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 1.43 and a beta of 1.13.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. Sysco had a net margin of 2.35% and a return on equity of 117.17%. The business had revenue of $19.62 billion during the quarter, compared to analyst estimates of $19.73 billion. During the same period last year, the firm posted $0.97 EPS. The company’s revenue was up 2.6% on a year-over-year basis. Research analysts anticipate that Sysco Co. will post 4.32 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 5th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, January 4th. Sysco’s dividend payout ratio (DPR) is currently 56.34%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Truist Financial reduced their target price on Sysco from $88.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, August 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Sysco in a report on Thursday, October 19th. They issued a “buy” rating and a $75.00 price objective for the company. Morgan Stanley lifted their price objective on Sysco from $75.00 to $76.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 1st. Barclays cut their price objective on Sysco from $86.00 to $77.00 and set an “overweight” rating for the company in a report on Monday, October 23rd. Finally, StockNews.com initiated coverage on Sysco in a report on Thursday, October 5th. They issued a “strong-buy” rating for the company. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.30.

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.