Regal Investment Advisors LLC Acquires 3,300 Shares of Sysco Co. (NYSE:SYY)

Regal Investment Advisors LLC lifted its holdings in shares of Sysco Co. (NYSE:SYY) by 19.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,674 shares of the company’s stock after acquiring an additional 3,300 shares during the quarter. Regal Investment Advisors LLC’s holdings in Sysco were worth $1,476,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ORG Partners LLC boosted its stake in shares of Sysco by 3,159.0% during the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after acquiring an additional 6,855 shares during the period. Bridgefront Capital LLC bought a new position in shares of Sysco during the 4th quarter worth approximately $841,000. Nebula Research & Development LLC bought a new stake in Sysco in the 4th quarter valued at $916,000. Mizuho Markets Americas LLC boosted its stake in Sysco by 102.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock valued at $11,355,000 after purchasing an additional 70,660 shares during the period. Finally, Wedge Capital Management L L P NC boosted its stake in Sysco by 11.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock valued at $12,577,000 after purchasing an additional 18,296 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SYY shares. Barclays boosted their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. Bank of America dropped their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. JPMorgan Chase & Co. lifted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Truist Financial dropped their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Price Performance

Sysco stock opened at $78.06 on Tuesday. 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 stock has a market capitalization of $38.37 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. The stock has a fifty day moving average of $76.30 and a 200-day moving average of $75.39.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The business 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%. Sysco’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 EPS. On average, sell-side analysts expect that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a dividend of $0.51 per share. 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 2.61%. Sysco’s dividend payout ratio is currently 49.76%.

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.