Williams Financial LLC Has $17.75 Million Holdings in Sysco Co. (NYSE:SYY)

Williams Financial LLC increased its position in Sysco Co. (NYSE:SYY) by 6,102.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 237,412 shares of the company’s stock after acquiring an additional 233,584 shares during the quarter. Sysco comprises about 0.2% of Williams Financial LLC’s investment portfolio, making the stock its 12th biggest position. Williams Financial LLC’s holdings in Sysco were worth $17,749,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. SVB Wealth LLC increased its holdings in shares of Sysco by 34.7% in the fourth quarter. SVB Wealth LLC now owns 27,566 shares of the company’s stock worth $2,016,000 after acquiring an additional 7,102 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Sysco by 16.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock worth $21,865,000 after purchasing an additional 41,618 shares during the last quarter. Tyche Wealth Partners LLC bought a new position in Sysco during the fourth quarter worth about $361,000. Daiwa Securities Group Inc. raised its position in shares of Sysco by 6.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 45,783 shares of the company’s stock valued at $3,348,000 after buying an additional 2,786 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in Sysco by 8.3% in the 4th quarter. Federated Hermes Inc. now owns 52,383 shares of the company’s stock valued at $3,831,000 after acquiring an additional 4,035 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the subject of a number of research analyst reports. 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 report on Monday, June 24th. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research note on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Barclays increased their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley reduced their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $85.27.

Sysco Stock Up 1.1 %

Shares of SYY stock traded up $0.81 during trading hours on Friday, reaching $76.57. 2,197,203 shares of the company’s stock were exchanged, compared to its average volume of 3,204,062. The stock’s 50 day moving average is $73.08 and its 200-day moving average is $76.04. The company has a market cap 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. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. 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 quarterly earnings results on Tuesday, July 30th. The company reported $1.39 EPS 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 company had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. During the same quarter last year, the business earned $1.34 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. Analysts predict that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is 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.