Creative Planning Purchases 6,814 Shares of Sysco Co. (NYSE:SYY)

Creative Planning lifted its stake in shares of Sysco Co. (NYSE:SYY) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 196,876 shares of the company’s stock after buying an additional 6,814 shares during the quarter. Creative Planning’s holdings in Sysco were worth $15,368,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. ORG Partners LLC grew its position 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 buying an additional 6,855 shares during the period. Mizuho Markets Americas LLC grew its position in shares of Sysco by 102.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after buying an additional 70,660 shares during the period. Wedge Capital Management L L P NC grew its position in shares of Sysco by 11.6% during the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock worth $12,577,000 after buying an additional 18,296 shares during the period. Diversify Advisory Services LLC acquired a new stake in shares of Sysco during the 1st quarter worth approximately $1,677,000. Finally, Shell Asset Management Co. grew its position in shares of Sysco by 205.0% during the 1st quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock worth $1,161,000 after buying an additional 9,615 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barclays raised 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 Wednesday, July 31st. Truist Financial reduced their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Morgan Stanley reduced their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Jefferies Financial Group lifted their price target on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $86.08.

Sysco Trading Down 1.1 %

NYSE SYY opened at $74.71 on Tuesday. The stock has a market capitalization of $36.70 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.97 and a beta of 1.20. Sysco Co. has a one year low of $64.28 and a one year high of $82.89. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The business’s fifty day moving average is $76.54 and its 200-day moving average is $74.84.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) 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 business had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. During the same period in the previous year, the business posted $1.34 EPS. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities research analysts predict that Sysco Co. will post 4.6 EPS for the current 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 paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio is currently 52.44%.

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.