Sysco Co. (NYSE:SYY) Shares Bought by Columbus Macro LLC

Columbus Macro LLC grew its stake in Sysco Co. (NYSE:SYY) by 6.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 26,048 shares of the company’s stock after purchasing an additional 1,509 shares during the period. Columbus Macro LLC’s holdings in Sysco were worth $2,012,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of SYY. Armstrong Advisory Group Inc. grew its stake in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares during the period. TruNorth Capital Management LLC acquired a new position in shares of Sysco in the second quarter worth about $25,000. OFI Invest Asset Management purchased a new stake in shares of Sysco during the 1st quarter worth about $31,000. Fairscale Capital LLC acquired a new stake in shares of Sysco during the 2nd quarter valued at about $38,000. Finally, LRI Investments LLC acquired a new position in Sysco in the 1st quarter worth about $45,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the subject of several research analyst reports. Jefferies Financial Group upped their target price on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Truist Financial decreased their price objective 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. Morgan Stanley cut their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. JPMorgan Chase & Co. upped their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Bank of America lowered their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and a consensus price target of $86.08.

Sysco Trading Up 0.2 %

NYSE SYY traded up $0.16 on Friday, reaching $75.54. 3,048,198 shares of the company were exchanged, compared to its average volume of 3,163,805. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The business’s fifty day moving average price is $76.55 and its 200 day moving average price is $74.89. The stock has a market capitalization of $37.62 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 1.96 and a beta of 1.20. Sysco Co. has a fifty-two week low of $64.28 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly 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. 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 analysts’ expectations of $20.51 billion. During the same quarter in the previous year, the company posted $1.34 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. Analysts forecast that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently declared 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. This represents a $2.04 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s payout ratio 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.