Sequoia Financial Advisors LLC Has $1.49 Million Position in Sysco Co. (NYSE:SYY)

Sequoia Financial Advisors LLC increased its position in shares of Sysco Co. (NYSE:SYY) by 10.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,329 shares of the company’s stock after purchasing an additional 1,797 shares during the period. Sequoia Financial Advisors LLC’s holdings in Sysco were worth $1,488,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. First United Bank & Trust acquired a new position in Sysco in the 4th quarter valued at $26,000. Verity & Verity LLC acquired a new position in Sysco in the 1st quarter valued at $26,000. AdvisorNet Financial Inc raised its holdings in Sysco by 74.0% in the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after acquiring an additional 159 shares in the last quarter. Burkett Financial Services LLC acquired a new position in Sysco in the 4th quarter valued at $30,000. Finally, OFI Invest Asset Management acquired a new position in Sysco in the 1st quarter valued at $31,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SYY shares. Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a report on Tuesday, May 28th. Truist Financial lowered their price target on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. JPMorgan Chase & Co. lowered their price target on Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. BMO Capital Markets lowered their price target on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Finally, Barclays lowered their price target on Sysco from $88.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average target price of $84.90.

Sysco Trading Up 0.3 %

Shares of NYSE SYY traded up $0.21 during trading on Friday, reaching $69.75. The company had a trading volume of 2,308,655 shares, compared to its average volume of 3,712,760. The company’s fifty day moving average price is $73.23 and its 200-day moving average price is $76.25. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The stock has a market cap of $34.73 billion, a P/E ratio of 17.01, a PEG ratio of 1.88 and a beta of 1.18. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The firm had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The business’s revenue was up 2.7% on a year-over-year basis. As a group, research analysts expect that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, July 5th. This is a positive change from Sysco’s previous quarterly dividend of $0.50. Sysco’s payout ratio is 48.78%.

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.