HM Payson & Co. Boosts Stock Position in Sysco Co. (NYSE:SYY)

HM Payson & Co. raised its stake in Sysco Co. (NYSE:SYY) by 12.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 20,130 shares of the company’s stock after buying an additional 2,225 shares during the quarter. HM Payson & Co.’s holdings in Sysco were worth $1,634,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. AdvisorNet Financial Inc grew its stake in Sysco by 74.0% in the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares during the last quarter. Trust Point Inc. purchased a new position in shares of Sysco in the 4th quarter valued at approximately $936,000. Ballentine Partners LLC lifted its stake in shares of Sysco by 54.0% during the fourth quarter. Ballentine Partners LLC now owns 9,774 shares of the company’s stock worth $715,000 after buying an additional 3,426 shares during the period. Compass Ion Advisors LLC lifted its stake in shares of Sysco by 8.3% during the fourth quarter. Compass Ion Advisors LLC now owns 4,916 shares of the company’s stock worth $359,000 after buying an additional 376 shares during the period. Finally, Boston Trust Walden Corp lifted its stake in shares of Sysco by 0.7% during the fourth quarter. Boston Trust Walden Corp now owns 314,273 shares of the company’s stock worth $22,983,000 after buying an additional 2,163 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

SYY traded up $0.90 on Friday, reaching $76.71. The stock had a trading volume of 3,313,141 shares, compared to its average volume of 3,000,702. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The company has a current ratio of 1.20, a quick ratio of 0.77 and a debt-to-equity ratio of 6.19. The business’s 50-day moving average price is $72.47 and its two-hundred day moving average price is $76.09. The company has a market cap of $38.20 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 2.04 and a beta of 1.18.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. During the same quarter in the previous year, the company earned $1.34 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Sell-side analysts forecast that Sysco Co. will post 4.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SYY. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Barclays lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday. Truist Financial lowered their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Piper Sandler reduced their target price on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Finally, StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $85.27.

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.