Choreo LLC Buys 9,297 Shares of Sysco Co. (NYSE:SYY)

Choreo LLC increased its stake in Sysco Co. (NYSE:SYY) by 117.3% during the second quarter, HoldingsChannel reports. The firm owned 17,225 shares of the company’s stock after acquiring an additional 9,297 shares during the period. Choreo LLC’s holdings in Sysco were worth $1,205,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. TruNorth Capital Management LLC purchased a new stake in Sysco during the second quarter valued at about $25,000. Verity & Verity LLC purchased a new stake in shares of Sysco during the 1st quarter valued at approximately $26,000. Burkett Financial Services LLC bought a new position in Sysco in the 4th quarter worth approximately $30,000. OFI Invest Asset Management purchased a new position in Sysco in the 1st quarter valued at approximately $31,000. Finally, Fairman Group LLC bought a new stake in Sysco during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

SYY has been the subject of a number of analyst reports. Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a report on Tuesday, May 28th. Bank of America reduced their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Truist Financial lowered their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Finally, BMO Capital Markets decreased their target price on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $85.27.

Sysco Stock Up 1.0 %

Shares of NYSE:SYY opened at $76.97 on Friday. The firm has a market capitalization of $38.33 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 2.05 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. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The firm has a fifty day moving average of $75.20 and a 200 day moving average of $75.77.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The company had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. During the same period last year, the firm posted $1.34 EPS. Sysco’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, research analysts anticipate that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Announces Dividend

The business 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 dividend on an annualized basis and a yield of 2.65%. Sysco’s dividend payout ratio (DPR) is currently 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.