Triad Wealth Partners LLC Buys Shares of 1,330 Sysco Co. (NYSE:SYY)

Triad Wealth Partners LLC purchased a new stake in Sysco Co. (NYSE:SYY) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,330 shares of the company’s stock, valued at approximately $95,000.

A number of other hedge funds have also recently made changes to their positions in the company. Louisiana State Employees Retirement System purchased a new position in shares of Sysco in the 4th quarter worth about $2,230,000. Keel Point LLC bought a new stake in shares of Sysco in the 4th quarter worth approximately $223,000. SVB Wealth LLC boosted its stake in shares of Sysco by 34.7% in the 4th quarter. SVB Wealth LLC now owns 27,566 shares of the company’s stock valued at $2,016,000 after purchasing an additional 7,102 shares in the last quarter. Cookson Peirce & Co. Inc. raised its position in Sysco by 27.1% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 6,092 shares of the company’s stock worth $446,000 after purchasing an additional 1,300 shares during the period. Finally, Everence Capital Management Inc. lifted its stake in Sysco by 41.7% in the fourth quarter. Everence Capital Management Inc. now owns 24,650 shares of the company’s stock worth $1,803,000 after purchasing an additional 7,250 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYY has been the topic of several recent analyst reports. BMO Capital Markets cut their target price on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Barclays upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. decreased their target price on Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.27.

Sysco Stock Performance

NYSE SYY traded up $0.81 on Friday, hitting $76.57. 2,197,203 shares of the company traded hands, compared to its average volume of 3,204,062. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The company has a market capitalization of $38.13 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 1.98 and a beta of 1.18. The business’s 50 day moving average price is $73.08 and its 200-day moving average price is $76.11. 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 (NYSE:SYY) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $20.51 billion. During the same quarter in the previous year, the company earned $1.34 EPS. Sysco’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities analysts expect that Sysco Co. will post 4.6 earnings per share for the current 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 paid a $0.51 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.66%. Sysco’s payout ratio is 49.76%.

Sysco 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.