Parkside Financial Bank & Trust boosted its position in Sysco Co. (NYSE:SYY – Get Rating) by 28.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,067 shares of the company’s stock after acquiring an additional 234 shares during the period. Parkside Financial Bank & Trust’s holdings in Sysco were worth $91,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SYY. CFS Investment Advisory Services LLC raised its stake in Sysco by 8,046.2% in the 1st quarter. CFS Investment Advisory Services LLC now owns 2,049,905 shares of the company’s stock valued at $25,000 after acquiring an additional 2,024,741 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new stake in Sysco in the 1st quarter valued at about $29,000. DeDora Capital Inc. purchased a new position in Sysco during the 1st quarter valued at about $31,000. Column Capital Advisors LLC grew its holdings in Sysco by 4,900.0% during the 1st quarter. Column Capital Advisors LLC now owns 400 shares of the company’s stock valued at $33,000 after buying an additional 392 shares in the last quarter. Finally, Mascoma Wealth Management LLC grew its holdings in Sysco by 80.0% during the 1st quarter. Mascoma Wealth Management LLC now owns 414 shares of the company’s stock valued at $34,000 after buying an additional 184 shares in the last quarter. 82.43% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on SYY shares. JPMorgan Chase & Co. raised Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 target price for the company in a report on Thursday, May 26th. Barclays reduced their target price on Sysco to $100.00 in a report on Monday, August 15th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 14th. Credit Suisse Group reduced their target price on Sysco from $107.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, August 10th. Finally, Stephens initiated coverage on Sysco in a report on Thursday. They set an “overweight” rating for the company. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.13.
Sysco Stock Down 1.4 %
Sysco (NYSE:SYY – Get Rating) last issued its earnings results on Tuesday, August 9th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.03. The business had revenue of $18.96 billion during the quarter, compared to analyst estimates of $18.29 billion. Sysco had a return on equity of 119.55% and a net margin of 1.98%. Sysco’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Sell-side analysts expect that Sysco Co. will post 4.2 earnings per share for the current fiscal year.
Sysco Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 2.53%. The ex-dividend date is Thursday, October 6th. Sysco’s dividend payout ratio is currently 74.24%.
Sysco Company Profile
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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