Sysco Co. (NYSE:SYY) Shares Purchased by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC boosted its holdings in Sysco Co. (NYSE:SYY) by 14.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,410 shares of the company’s stock after buying an additional 439 shares during the period. Arete Wealth Advisors LLC’s holdings in Sysco were worth $261,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IHT Wealth Management LLC increased its position in Sysco by 45.5% during the third quarter. IHT Wealth Management LLC now owns 6,797 shares of the company’s stock worth $530,000 after purchasing an additional 2,124 shares during the last quarter. Morse Asset Management Inc acquired a new stake in shares of Sysco during the 3rd quarter worth $390,000. Quantinno Capital Management LP raised its position in shares of Sysco by 92.7% in the 3rd quarter. Quantinno Capital Management LP now owns 60,394 shares of the company’s stock worth $4,714,000 after buying an additional 29,050 shares during the period. Stifel Financial Corp boosted its holdings in Sysco by 3.7% in the third quarter. Stifel Financial Corp now owns 503,956 shares of the company’s stock valued at $39,338,000 after acquiring an additional 18,052 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in Sysco by 76.0% during the third quarter. Kovitz Investment Group Partners LLC now owns 135,362 shares of the company’s stock valued at $10,256,000 after acquiring an additional 58,430 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SYY. Morgan Stanley reduced their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Wells Fargo & Company lifted their target price on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, UBS Group cut their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Stock Performance

Shares of SYY opened at $71.41 on Monday. The firm has a market cap of $34.94 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.88 and a beta of 0.91. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The business’s 50 day moving average is $73.07 and its two-hundred day moving average is $75.04. Sysco Co. has a 52-week low of $68.81 and a 52-week high of $82.23.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the previous year, the firm earned $0.89 EPS. Analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s payout ratio is currently 52.44%.

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.