Koshinski Asset Management Inc. Increases Holdings in Sysco Co. (NYSE:SYY)

Koshinski Asset Management Inc. increased its position in shares of Sysco Co. (NYSE:SYY) by 3.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,913 shares of the company’s stock after purchasing an additional 146 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Sysco were worth $383,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Virtu Financial LLC grew its position in Sysco by 60.0% during the 4th quarter. Virtu Financial LLC now owns 7,427 shares of the company’s stock worth $543,000 after purchasing an additional 2,786 shares during the period. Fisher Asset Management LLC grew its holdings in Sysco by 52.5% during the fourth quarter. Fisher Asset Management LLC now owns 8,084 shares of the company’s stock worth $591,000 after acquiring an additional 2,784 shares during the period. ICA Group Wealth Management LLC purchased a new position in Sysco during the fourth quarter valued at approximately $123,000. B. Riley Wealth Advisors Inc. lifted its holdings in Sysco by 7.1% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 38,532 shares of the company’s stock valued at $2,818,000 after acquiring an additional 2,564 shares during the period. Finally, HighPoint Advisor Group LLC purchased a new stake in Sysco in the 4th quarter worth approximately $891,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SYY shares. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Bank of America cut their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Barclays increased their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $86.08.

Sysco Stock Performance

Shares of NYSE:SYY opened at $75.60 on Wednesday. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. Sysco Co. has a 1 year low of $63.18 and a 1 year high of $82.89. The firm has a market capitalization of $37.65 billion, a PE ratio of 18.44, a P/E/G ratio of 1.92 and a beta of 1.20. The business’s 50 day moving average price is $76.55 and its 200-day moving average price is $74.95.

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

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a $0.51 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.70%. Sysco’s payout ratio is 49.76%.

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.