BKM Wealth Management LLC Buys 1,391 Shares of Sysco Co. (NYSE:SYY)

BKM Wealth Management LLC raised its holdings in Sysco Co. (NYSE:SYY) by 242.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,965 shares of the company’s stock after buying an additional 1,391 shares during the period. BKM Wealth Management LLC’s holdings in Sysco were worth $160,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Capital World Investors bought a new position in Sysco in the 4th quarter valued at $683,599,000. Norges Bank purchased a new stake in shares of Sysco in the 4th quarter worth $450,794,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Sysco by 132.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock worth $267,177,000 after buying an additional 2,084,501 shares during the period. Capital Research Global Investors purchased a new stake in shares of Sysco in the 4th quarter worth $227,241,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Sysco by 8.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,036,100 shares of the company’s stock worth $222,029,000 after buying an additional 240,671 shares during the period. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, May 28th. JPMorgan Chase & Co. decreased their price objective on Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Truist Financial decreased their price target on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Piper Sandler decreased their price target on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, Barclays decreased their price target on Sysco from $88.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.90.

Sysco Stock Performance

Shares of Sysco stock opened at $69.88 on Tuesday. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The company has a market cap of $34.80 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 2.05 and a beta of 1.18. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34. The business’s 50 day moving average price is $73.94 and its 200 day moving average price is $76.41.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, topping 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 company had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter last year, the firm earned $0.90 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, research analysts predict that Sysco Co. will post 4.3 EPS for the current year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.92%. This is a boost from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. Sysco’s payout ratio is presently 48.78%.

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.