Vest Financial LLC Has $52.87 Million Stock Holdings in Sysco Co. (NYSE:SYY)

Vest Financial LLC grew its holdings in Sysco Co. (NYSE:SYY) by 18.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 677,256 shares of the company’s stock after buying an additional 103,216 shares during the quarter. Vest Financial LLC’s holdings in Sysco were worth $52,867,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC lifted its holdings in shares of Sysco by 3,159.0% during the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after purchasing an additional 6,855 shares in the last quarter. Mizuho Markets Americas LLC grew its holdings in Sysco by 102.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock valued at $11,355,000 after buying an additional 70,660 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in Sysco by 11.6% in the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock valued at $12,577,000 after buying an additional 18,296 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Sysco during the 1st quarter valued at $1,677,000. Finally, Shell Asset Management Co. lifted its position in shares of Sysco by 205.0% during the 1st quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock valued at $1,161,000 after acquiring an additional 9,615 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Truist Financial dropped their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Morgan Stanley decreased their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Bank of America decreased their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Jefferies Financial Group raised 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. Finally, JPMorgan Chase & Co. increased their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Stock Up 0.2 %

SYY stock traded up $0.16 during midday trading on Friday, hitting $75.54. The company’s stock had a trading volume of 3,048,198 shares, compared to its average volume of 3,163,805. The firm’s 50-day moving average is $76.55 and its 200-day moving average is $74.89. The company has a market cap of $37.62 billion, a PE ratio of 18.42, a P/E/G ratio of 1.96 and a beta of 1.20. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. Sysco Co. has a 12 month low of $64.28 and a 12 month high of $82.89.

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

Sysco Dividend Announcement

The company also recently disclosed 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 of this dividend is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.70%. Sysco’s payout ratio is 49.76%.

About Sysco

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.