Sysco Co. (NYSE:SYY) Shares Purchased by Evergreen Capital Management LLC

Evergreen Capital Management LLC boosted its position in shares of Sysco Co. (NYSE:SYY) by 2.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 61,084 shares of the company’s stock after acquiring an additional 1,571 shares during the quarter. Evergreen Capital Management LLC’s holdings in Sysco were worth $4,361,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SYY. Chicago Partners Investment Group LLC lifted its position in Sysco by 1.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock valued at $536,000 after purchasing an additional 124 shares during the period. Bell Investment Advisors Inc boosted its stake in shares of Sysco by 8.2% in the fourth quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock worth $126,000 after buying an additional 131 shares during the last quarter. Beacon Investment Advisors LLC grew its holdings in Sysco by 0.5% during the fourth quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock worth $1,805,000 after acquiring an additional 133 shares during the period. Plimoth Trust Co. LLC raised its position in Sysco by 0.6% during the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after acquiring an additional 139 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its holdings in Sysco by 1.7% in the first quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock valued at $679,000 after acquiring an additional 141 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

NYSE SYY opened at $76.17 on Tuesday. 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 stock’s 50 day simple moving average is $75.96 and its 200-day simple moving average is $75.50. The company has a market cap of $37.93 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89.

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

Sysco Announces Dividend

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 issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio is currently 49.76%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SYY. Truist Financial dropped their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Bank of America lowered their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Tuesday, May 28th. Finally, Barclays upped their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two research 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.55.

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.