Paragon Capital Management Ltd Has $266,000 Stake in Sysco Co. (NYSE:SYY)

Paragon Capital Management Ltd reduced its stake in Sysco Co. (NYSE:SYYFree Report) by 6.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,279 shares of the company’s stock after selling 209 shares during the period. Paragon Capital Management Ltd’s holdings in Sysco were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SYY. Capital World Investors bought a new position in Sysco in the 4th quarter valued at approximately $683,599,000. Norges Bank acquired a new stake in Sysco in the 4th quarter valued at $450,794,000. Capital Research Global Investors acquired a new stake in Sysco in the 4th quarter valued at $227,241,000. The Manufacturers Life Insurance Company boosted its holdings in Sysco by 132.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock worth $267,177,000 after acquiring an additional 2,084,501 shares during the last quarter. Finally, Fiduciary Management Inc. WI boosted its holdings in Sysco by 92.1% during the 4th quarter. Fiduciary Management Inc. WI now owns 2,619,940 shares of the company’s stock worth $191,596,000 after acquiring an additional 1,255,908 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of analyst reports. Morgan Stanley cut their price objective on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, May 23rd. UBS Group lowered their target price on Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Barclays lowered their target price on Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Piper Sandler lowered their target price on Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $85.10.

View Our Latest Research Report on SYY

Sysco Price Performance

Shares of SYY traded up $0.60 during midday trading on Friday, hitting $73.35. 8,655,336 shares of the company traded hands, compared to its average volume of 2,982,614. The stock has a 50-day moving average of $74.22 and a 200-day moving average of $76.43. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The firm has a market cap of $36.53 billion, a P/E ratio of 17.89, a PEG ratio of 2.09 and a beta of 1.17. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77.

Sysco (NYSE:SYYGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The firm had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $19.74 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts predict that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.51 per share. This is a positive change from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 annualized dividend and a dividend yield of 2.78%. Sysco’s payout ratio is presently 48.78%.

Sysco Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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