Gateway Investment Advisers LLC Boosts Stock Holdings in Sysco Co. (NYSE:SYY)

Gateway Investment Advisers LLC raised its holdings in shares of Sysco Co. (NYSE:SYYGet Rating) by 334.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 43,954 shares of the company’s stock after purchasing an additional 33,832 shares during the period. Gateway Investment Advisers LLC’s holdings in Sysco were worth $3,723,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Field & Main Bank grew its stake in shares of Sysco by 1.7% in the first quarter. Field & Main Bank now owns 7,030 shares of the company’s stock valued at $574,000 after buying an additional 115 shares in the last quarter. Stock Yards Bank & Trust Co. grew its stake in Sysco by 3.2% during the 1st quarter. Stock Yards Bank & Trust Co. now owns 3,756 shares of the company’s stock worth $307,000 after purchasing an additional 115 shares in the last quarter. Aevitas Wealth Management Inc. grew its stake in Sysco by 3.0% during the 1st quarter. Aevitas Wealth Management Inc. now owns 3,970 shares of the company’s stock worth $324,000 after purchasing an additional 117 shares in the last quarter. Ellevest Inc. grew its stake in Sysco by 2.9% during the 1st quarter. Ellevest Inc. now owns 4,190 shares of the company’s stock worth $342,000 after purchasing an additional 120 shares in the last quarter. Finally, Brinker Capital Investments LLC grew its stake in Sysco by 3.2% during the 1st quarter. Brinker Capital Investments LLC now owns 3,851 shares of the company’s stock worth $314,000 after purchasing an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 82.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on SYY shares. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 14th. Barclays lowered their target price on Sysco to $100.00 in a research note on Monday, August 15th. JPMorgan Chase & Co. raised Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 price objective for the company in a research report on Thursday, May 26th. Stephens began coverage on Sysco in a research note on Thursday. They set an “overweight” rating for the company. Finally, Truist Financial dropped their price target on shares of Sysco from $98.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $94.13.

Sysco Stock Down 1.4 %

SYY stock opened at $77.38 on Friday. The company’s 50 day moving average is $83.98 and its two-hundred day moving average is $83.51. The stock has a market cap of $39.16 billion, a P/E ratio of 29.31, a PEG ratio of 2.07 and a beta of 1.01. Sysco Co. has a twelve month low of $68.05 and a twelve month high of $91.53. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 7.28.

Sysco (NYSE:SYYGet Rating) last announced its earnings results on Tuesday, August 9th. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. The business had revenue of $18.96 billion for the quarter, compared to analysts’ expectations of $18.29 billion. Sysco had a net margin of 1.98% and a return on equity of 119.55%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 EPS. Research analysts expect that Sysco Co. will post 4.2 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be issued a $0.49 dividend. The ex-dividend date is Thursday, October 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.53%. Sysco’s payout ratio is 74.24%.

About Sysco

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Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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