Edgestream Partners L.P. Invests $1.39 Million in Sysco Co. (NYSE:SYY)

Edgestream Partners L.P. bought a new position in shares of Sysco Co. (NYSE:SYY) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 18,740 shares of the company’s stock, valued at approximately $1,391,000.

Several other large investors have also made changes to their positions in SYY. MRP Capital Investments LLC acquired a new position in shares of Sysco during the 1st quarter worth approximately $31,000. Sunbelt Securities Inc. acquired a new position in shares of Sysco during the 1st quarter worth approximately $32,000. MayTech Global Investments LLC acquired a new position in Sysco in the 4th quarter valued at $38,000. Barrett & Company Inc. acquired a new position in Sysco in the 1st quarter valued at $41,000. Finally, Quarry LP raised its stake in Sysco by 58.2% in the 1st quarter. Quarry LP now owns 541 shares of the company’s stock valued at $42,000 after purchasing an additional 199 shares during the last quarter. 80.60% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

NYSE SYY opened at $71.27 on Tuesday. The stock has a market cap of $35.95 billion, a PE ratio of 20.08, a P/E/G ratio of 1.43 and a beta of 1.13. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 5.04. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $87.21. The stock has a fifty day simple moving average of $66.81 and a 200-day simple moving average of $70.65.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, October 31st. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. The business had revenue of $19.62 billion during the quarter, compared to analysts’ expectations of $19.73 billion. Sysco had a return on equity of 117.17% and a net margin of 2.35%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.97 EPS. Equities analysts anticipate that Sysco Co. will post 4.32 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.81%. The ex-dividend date is Thursday, January 4th. Sysco’s payout ratio is 56.34%.

Wall Street Analyst Weigh In

SYY has been the subject of several recent research reports. Morgan Stanley increased their price objective on Sysco from $75.00 to $76.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 1st. Deutsche Bank Aktiengesellschaft initiated coverage on Sysco in a research note on Thursday, October 19th. They issued a “buy” rating and a $75.00 price objective for the company. Truist Financial reduced their price objective on Sysco from $88.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, August 2nd. StockNews.com started coverage on Sysco in a report on Thursday, October 5th. They issued a “strong-buy” rating for the company. Finally, Stephens dropped their target price on Sysco from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, November 1st. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.30.

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.