Sysco Co. (NYSE:SYY) Shares Acquired by Atticus Wealth Management LLC

Atticus Wealth Management LLC grew its holdings in Sysco Co. (NYSE:SYYGet Rating) by 13.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,500 shares of the company’s stock after purchasing an additional 300 shares during the quarter. Atticus Wealth Management LLC’s holdings in Sysco were worth $212,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Hilltop Holdings Inc. boosted its position in Sysco by 10.1% during the fourth quarter. Hilltop Holdings Inc. now owns 5,439 shares of the company’s stock worth $427,000 after acquiring an additional 500 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in Sysco by 10.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 23,631 shares of the company’s stock worth $1,854,000 after acquiring an additional 2,167 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in Sysco by 3.1% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 56,605 shares of the company’s stock worth $4,446,000 after acquiring an additional 1,708 shares during the last quarter. Fort Point Capital Partners LLC boosted its position in Sysco by 31.0% during the fourth quarter. Fort Point Capital Partners LLC now owns 3,794 shares of the company’s stock worth $298,000 after acquiring an additional 898 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in Sysco by 11.4% during the fourth quarter. Blair William & Co. IL now owns 376,765 shares of the company’s stock worth $29,595,000 after acquiring an additional 38,474 shares during the last quarter. 82.43% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

SYY opened at $78.45 on Thursday. The company has a fifty day simple moving average of $84.17 and a 200 day simple moving average of $83.51. The firm has a market cap of $39.70 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 2.10 and a beta of 1.01. Sysco Co. has a twelve month low of $68.05 and a twelve month high of $91.53. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 7.28.

Sysco (NYSE:SYYGet Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.03. The company had revenue of $18.96 billion during the quarter, compared to analyst estimates of $18.29 billion. Sysco had a net margin of 1.98% and a return on equity of 119.55%. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the business earned $0.71 EPS. Equities research analysts expect that Sysco Co. will post 4.2 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.50%. The ex-dividend date is Thursday, October 6th. Sysco’s dividend payout ratio is currently 74.24%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Truist Financial cut their price target on shares of Sysco from $98.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. JPMorgan Chase & Co. raised shares of Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 price target on the stock in a research note on Thursday, May 26th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 14th. Barclays cut their target price on shares of Sysco to $100.00 in a research note on Monday, August 15th. Finally, Credit Suisse Group cut their target price on shares of Sysco from $107.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 10th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $94.13.

About Sysco

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Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

Further Reading

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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