Sysco Co. (NYSE:SYY) Shares Purchased by Walter Public Investments Inc.

Walter Public Investments Inc. increased its holdings in Sysco Co. (NYSE:SYY) by 40.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 133,752 shares of the company’s stock after buying an additional 38,246 shares during the quarter. Walter Public Investments Inc.’s holdings in Sysco were worth $9,549,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Capital World Investors purchased a new stake in shares of Sysco in the 4th quarter valued at $683,599,000. Norges Bank acquired a new position in Sysco during the fourth quarter valued at $450,794,000. Capital Research Global Investors boosted its holdings in Sysco by 112.8% in the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after purchasing an additional 3,504,740 shares during the last quarter. Swedbank AB acquired a new stake in Sysco during the 1st quarter worth about $178,824,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Sysco by 132.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock valued at $267,177,000 after buying an additional 2,084,501 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Trading Down 0.6 %

Shares of Sysco stock opened at $76.52 on Monday. The company has a current ratio of 1.20, a quick ratio of 0.69 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. The firm has a market capitalization of $38.11 billion, a PE ratio of 18.66, a P/E/G ratio of 2.01 and a beta of 1.20. The firm’s 50-day moving average price is $75.34 and its 200 day moving average price is $75.66.

Sysco (NYSE:SYY) last released its 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. 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 the consensus estimate of $20.51 billion. During the same quarter last year, the business posted $1.34 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts predict that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s payout ratio is 49.76%.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of recent research reports. Truist Financial lowered their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Barclays upped their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Morgan Stanley cut their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Tuesday, May 28th. Finally, StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.27.

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.