Sequoia Financial Advisors LLC Buys 2,093 Shares of Sysco Co. (NYSE:SYY)

Sequoia Financial Advisors LLC raised its stake in Sysco Co. (NYSE:SYY) by 11.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,267 shares of the company’s stock after acquiring an additional 2,093 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Sysco were worth $1,582,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. TruNorth Capital Management LLC purchased a new position in Sysco in the second quarter valued at approximately $25,000. Armstrong Advisory Group Inc. lifted its position in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after buying an additional 310 shares during the last quarter. Fairscale Capital LLC bought a new position in shares of Sysco during the 2nd quarter worth $38,000. LRI Investments LLC purchased a new stake in Sysco in the 1st quarter worth about $45,000. Finally, Livelsberger Financial Advisory bought a new stake in Sysco in the 3rd quarter valued at about $47,000. 83.41% of the stock is owned by institutional investors.

Sysco Stock Performance

Shares of SYY opened at $74.37 on Friday. 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 50-day moving average price of $76.51 and a 200-day moving average price of $74.82. The company has a market cap of $36.53 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 1.95 and a beta of 1.20. Sysco Co. has a 12-month low of $64.28 and a 12-month 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, beating the consensus estimate of $1.38 by $0.01. The business had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. Sysco’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.34 earnings per share. As a group, equities analysts forecast that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.74%. Sysco’s dividend payout ratio is presently 52.44%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SYY shares. 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 research report on Tuesday, July 16th. Bank of America reduced their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Jefferies Financial Group increased their target price on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, Barclays increased their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.08.

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.