Equitable Trust Co. Acquires 1,405 Shares of Sysco Co. (NYSE:SYY)

Equitable Trust Co. boosted its holdings in Sysco Co. (NYSE:SYY) by 4.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,409 shares of the company’s stock after buying an additional 1,405 shares during the period. Equitable Trust Co.’s holdings in Sysco were worth $2,528,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Chicago Partners Investment Group LLC grew its position in Sysco by 1.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock worth $536,000 after buying an additional 124 shares in the last quarter. Bell Investment Advisors Inc grew its holdings in shares of Sysco by 8.2% during the 4th quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock worth $126,000 after purchasing an additional 131 shares in the last quarter. Beacon Investment Advisors LLC increased its position in shares of Sysco by 0.5% during the fourth quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock valued at $1,805,000 after purchasing an additional 133 shares during the period. Plimoth Trust Co. LLC raised its stake in shares of Sysco by 0.6% in the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after purchasing an additional 139 shares in the last quarter. Finally, JFS Wealth Advisors LLC lifted its position in Sysco by 39.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 141 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SYY shares. Truist Financial lowered their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. JPMorgan Chase & Co. dropped their price target on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. BMO Capital Markets dropped their target price on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Finally, Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.27.

Sysco Price Performance

Sysco stock traded up $0.44 on Friday, reaching $77.97. The company’s stock had a trading volume of 2,346,457 shares, compared to its average volume of 2,479,362. The business’s fifty day moving average price is $74.07 and its 200 day moving average price is $75.84. 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 company has a market cap of $38.32 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 2.03 and a beta of 1.18. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.01. The business had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.34 EPS. Equities analysts expect that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.62%. Sysco’s payout ratio is 49.76%.

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.