Sysco Co. (NYSE:SYY) Shares Purchased by New England Research & Management Inc.

New England Research & Management Inc. boosted its holdings in Sysco Co. (NYSE:SYY) by 38.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 34,394 shares of the company’s stock after purchasing an additional 9,560 shares during the quarter. Sysco accounts for approximately 1.3% of New England Research & Management Inc.’s investment portfolio, making the stock its 20th largest holding. New England Research & Management Inc.’s holdings in Sysco were worth $2,685,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. TruNorth Capital Management LLC acquired a new stake in Sysco in the second quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new position in Sysco in the 1st quarter worth $31,000. Fairscale Capital LLC purchased a new position in Sysco in the 2nd quarter valued at about $38,000. Fairman Group LLC acquired a new stake in shares of Sysco during the fourth quarter valued at about $39,000. Finally, LRI Investments LLC purchased a new stake in shares of Sysco during the first quarter worth about $45,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Stock Performance

Shares of Sysco stock traded down $0.68 on Monday, reaching $74.73. 2,481,035 shares of the company were exchanged, compared to its average volume of 3,167,936. Sysco Co. has a 1-year low of $62.40 and a 1-year high of $82.89. The firm has a market cap of $36.73 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 2.02 and a beta of 1.20. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The company’s 50-day moving average is $76.65 and its two-hundred day moving average is $75.27.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.01. The firm had revenue of $20.56 billion for 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%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the company earned $1.34 earnings per share. As a group, research analysts expect that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.73%. Sysco’s payout ratio is currently 49.76%.

Wall Street Analysts Forecast Growth

SYY has been the subject of a number of analyst reports. Truist Financial reduced their price target on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. Barclays lifted their price target 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. Bank of America decreased their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Morgan Stanley cut their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. lifted their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco 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.