Plimoth Trust Co. LLC Grows Stock Holdings in Sysco Co. (NYSE:SYY)

Plimoth Trust Co. LLC lifted its position in shares of Sysco Co. (NYSE:SYY) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,146 shares of the company’s stock after purchasing an additional 599 shares during the period. Plimoth Trust Co. LLC’s holdings in Sysco were worth $1,807,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Meeder Advisory Services Inc. boosted its holdings in Sysco by 1.7% during the 1st 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. Koshinski Asset Management Inc. grew its holdings in shares of Sysco by 3.1% in the third quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after purchasing an additional 146 shares during the last quarter. NorthRock Partners LLC increased its stake in Sysco by 3.7% in the 1st quarter. NorthRock Partners LLC now owns 4,121 shares of the company’s stock worth $335,000 after buying an additional 147 shares during the period. Winthrop Advisory Group LLC lifted its holdings in Sysco by 3.7% during the 1st quarter. Winthrop Advisory Group LLC now owns 4,120 shares of the company’s stock valued at $334,000 after buying an additional 148 shares in the last quarter. Finally, Powers Advisory Group LLC boosted its position in Sysco by 1.6% in the 2nd quarter. Powers Advisory Group LLC now owns 9,555 shares of the company’s stock valued at $682,000 after buying an additional 149 shares during the period. 83.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SYY has been the subject of a number of research reports. Bank of America lowered their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Truist Financial dropped their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Finally, Barclays lifted their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $86.08.

Sysco Stock Performance

Shares of NYSE SYY traded down $0.83 during midday trading on Monday, reaching $74.71. The company had a trading volume of 2,397,812 shares, compared to its average volume of 3,160,031. Sysco Co. has a 1 year low of $64.28 and a 1 year high of $82.89. The business’s 50-day simple moving average is $76.55 and its 200 day simple moving average is $74.85. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The stock has a market cap of $36.70 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.97 and a beta of 1.20.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping 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 company had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. During the same quarter in the previous year, the firm posted $1.34 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. On average, analysts forecast that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio is presently 52.44%.

About Sysco

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.