Archer Investment Corp Buys 1,725 Shares of Sysco Co. (NYSE:SYY)

Archer Investment Corp boosted its stake in shares of Sysco Co. (NYSE:SYY) by 1,039.2% in the second quarter, Holdings Channel reports. The institutional investor owned 1,891 shares of the company’s stock after purchasing an additional 1,725 shares during the period. Archer Investment Corp’s holdings in Sysco were worth $135,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC bought a new position in Sysco during the 2nd quarter valued at approximately $25,000. First United Bank & Trust bought a new stake in shares of Sysco in the 4th quarter worth $26,000. OFI Invest Asset Management bought a new stake in shares of Sysco in the 1st quarter worth $31,000. Burkett Financial Services LLC bought a new stake in shares of Sysco in the 4th quarter worth $30,000. Finally, JFS Wealth Advisors LLC increased its holdings in shares of Sysco by 39.3% in the 4th quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 141 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of research analyst reports. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday. Truist Financial reduced their target price on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. Morgan Stanley dropped their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft dropped their price target on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Finally, Bank of America dropped their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.27.

Sysco Price Performance

NYSE SYY opened at $78.74 on Thursday. The company has a market capitalization of $38.70 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The business’s fifty day moving average is $74.34 and its 200 day moving average is $75.82. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89.

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. The company had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. Sysco’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.34 earnings per share. Sell-side analysts predict that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a $0.51 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.59%. Sysco’s payout ratio is 49.76%.

Sysco 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.