Weil Company Inc. Purchases 458 Shares of Sysco Co. (NYSE:SYY)

Weil Company Inc. raised its position in Sysco Co. (NYSE:SYY) by 8.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,716 shares of the company’s stock after purchasing an additional 458 shares during the period. Weil Company Inc.’s holdings in Sysco were worth $408,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. TruNorth Capital Management LLC bought a new stake in shares of Sysco in the 2nd quarter valued at $25,000. First United Bank & Trust acquired a new stake in shares of Sysco during the fourth quarter worth about $26,000. Verity & Verity LLC bought a new position in shares of Sysco during the 1st quarter valued at about $26,000. Burkett Financial Services LLC acquired a new position in shares of Sysco in the 4th quarter valued at approximately $30,000. Finally, OFI Invest Asset Management bought a new stake in Sysco during the 1st quarter worth approximately $31,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYY has been the topic of a number of research reports. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. JPMorgan Chase & Co. reduced their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. BMO Capital Markets dropped their price target on Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 23rd. Bank of America reduced their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, Truist Financial dropped their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $85.27.

Sysco Stock Down 0.5 %

NYSE:SYY opened at $78.60 on Friday. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The stock’s 50 day moving average price is $74.61 and its two-hundred day moving average price is $75.84. The firm has a market capitalization of $38.63 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 2.05 and a beta of 1.20.

Sysco (NYSE:SYY) last posted 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. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.34 earnings per share. Equities research analysts expect that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is presently 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.