Sysco Co. (NYSE:SYY) Shares Purchased by CacheTech Inc.

CacheTech Inc. boosted its holdings in Sysco Co. (NYSE:SYY) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,571 shares of the company’s stock after buying an additional 749 shares during the period. CacheTech Inc.’s holdings in Sysco were worth $2,308,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. grew its holdings in Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares during the period. TruNorth Capital Management LLC purchased a new stake in shares of Sysco in the second quarter worth about $25,000. Canoe Financial LP acquired a new stake in shares of Sysco in the third quarter valued at about $38,000. Fairscale Capital LLC purchased a new stake in shares of Sysco during the 2nd quarter valued at about $38,000. Finally, LRI Investments LLC acquired a new position in Sysco during the 1st quarter worth approximately $45,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.1 %

NYSE:SYY opened at $75.03 on Friday. Sysco Co. has a 52 week low of $65.19 and a 52 week high of $82.89. The company has a quick ratio of 0.69, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The company has a market cap of $36.86 billion, a PE ratio of 19.29, a P/E/G ratio of 1.96 and a beta of 1.20. The business’s 50 day moving average is $76.19 and its two-hundred day moving average is $74.74.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The business had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 EPS. On average, analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were paid a $0.51 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.72%. Sysco’s payout ratio is currently 52.44%.

Analyst Upgrades and Downgrades

SYY has been the subject of several recent research reports. Bank of America lowered their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Morgan Stanley cut their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Wells Fargo & Company lowered their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. increased their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.77.

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.