Capstone Triton Financial Group LLC Increases Stake in Sysco Co. (NYSE:SYY)

Capstone Triton Financial Group LLC boosted its stake in shares of Sysco Co. (NYSE:SYY) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,691 shares of the company’s stock after purchasing an additional 175 shares during the period. Capstone Triton Financial Group LLC’s holdings in Sysco were worth $906,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. TruNorth Capital Management LLC acquired a new stake in shares of Sysco during the second quarter worth $25,000. OFI Invest Asset Management purchased a new position in Sysco in the 1st quarter worth $31,000. Burkett Financial Services LLC acquired a new stake in Sysco during the 4th quarter worth about $30,000. Fairman Group LLC purchased a new stake in Sysco during the 4th quarter valued at about $39,000. Finally, LRI Investments LLC acquired a new position in shares of Sysco in the first quarter valued at about $45,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Price Performance

Shares of Sysco stock opened at $75.19 on Friday. The firm has a market cap of $37.44 billion, a PE ratio of 18.34, a P/E/G ratio of 2.01 and a beta of 1.20. The business has a 50-day moving average price of $75.87 and a 200 day moving average price of $75.57. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89.

Sysco (NYSE:SYY) last announced 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. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. During the same period in the prior year, the company posted $1.34 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Sell-side analysts predict that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.71%. Sysco’s dividend payout ratio is currently 49.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SYY shares. JPMorgan Chase & Co. lifted their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a report on Tuesday, May 28th. 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. Finally, Morgan Stanley reduced their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.55.

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.