Lake Street Advisors Group LLC Increases Stake in Sysco Co. (NYSE:SYY)

Lake Street Advisors Group LLC raised its holdings in shares of Sysco Co. (NYSE:SYY) by 11.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,327 shares of the company’s stock after acquiring an additional 332 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Sysco were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC raised its stake in shares of Sysco by 5.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 10,314 shares of the company’s stock worth $837,000 after buying an additional 559 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Sysco by 3.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 160,434 shares of the company’s stock valued at $13,024,000 after purchasing an additional 4,709 shares in the last quarter. Atticus Wealth Management LLC boosted its position in shares of Sysco by 17.6% in the first quarter. Atticus Wealth Management LLC now owns 1,000 shares of the company’s stock worth $81,000 after purchasing an additional 150 shares during the period. Cornerstone Wealth Group LLC purchased a new stake in shares of Sysco in the first quarter worth $211,000. Finally, Red Door Wealth Management LLC bought a new stake in shares of Sysco during the 1st quarter valued at $226,000. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 0.6 %

Shares of NYSE SYY opened at $73.92 on Friday. Sysco Co. has a 1-year low of $64.28 and a 1-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 50 day moving average is $76.42 and its two-hundred day moving average is $74.80. The stock has a market capitalization of $36.31 billion, a P/E ratio of 19.00, a PEG ratio of 1.95 and a beta of 1.20.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.01. The company 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 prior year, the firm posted $1.34 EPS. As a group, research analysts expect that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.76%. Sysco’s payout ratio is 52.44%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SYY. JPMorgan Chase & Co. upped their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. Bank of America dropped their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Morgan Stanley reduced their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Finally, Barclays upped their target price 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. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average price target of $86.08.

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.