Everhart Financial Group Inc. Buys 1,563 Shares of Sysco Co. (NYSE:SYY)

Everhart Financial Group Inc. boosted its stake in shares of Sysco Co. (NYSE:SYY) by 45.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,976 shares of the company’s stock after purchasing an additional 1,563 shares during the quarter. Everhart Financial Group Inc.’s holdings in Sysco were worth $355,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 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 worth $3,831,000 after acquiring an additional 4,035 shares during the period. J.W. Cole Advisors Inc. increased its stake in shares of Sysco by 38.2% in the fourth quarter. J.W. Cole Advisors Inc. now owns 7,324 shares of the company’s stock worth $536,000 after purchasing an additional 2,024 shares during the period. abrdn plc lifted its position in shares of Sysco by 70.7% during the 4th quarter. abrdn plc now owns 213,018 shares of the company’s stock worth $15,578,000 after purchasing an additional 88,211 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Sysco by 115.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,760 shares of the company’s stock valued at $129,000 after purchasing an additional 942 shares during the period. Finally, Signaturefd LLC grew its holdings in Sysco by 20.5% in the 4th quarter. Signaturefd LLC now owns 6,261 shares of the company’s stock valued at $458,000 after buying an additional 1,065 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE SYY traded down $0.42 during midday trading on Friday, reaching $77.16. 2,004,921 shares of the company traded hands, compared to its average volume of 3,075,543. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The stock’s 50-day simple moving average is $73.65 and its 200-day simple moving average is $75.96. The firm has a market cap of $38.42 billion, a PE ratio of 18.82, a PEG ratio of 2.00 and a beta of 1.18.

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

Sysco Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.64%. Sysco’s dividend payout ratio is 49.76%.

Analyst Ratings Changes

SYY has been the subject of a number of research analyst reports. BMO Capital Markets cut 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. Barclays increased their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 9th. Truist Financial decreased their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. cut 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. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Sysco currently has a consensus 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.