ORG Wealth Partners LLC Buys New Stake in Sysco Co. (NYSE:SYY)

ORG Wealth Partners LLC purchased a new stake in shares of Sysco Co. (NYSE:SYY) during the 3rd quarter, HoldingsChannel reports. The firm purchased 3,214 shares of the company’s stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. TruNorth Capital Management LLC purchased a new position in shares of Sysco in the 2nd quarter valued at about $25,000. Armstrong Advisory Group Inc. raised its stake in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after buying an additional 310 shares during the period. OFI Invest Asset Management purchased a new position in shares of Sysco during the 1st quarter valued at approximately $31,000. Fairscale Capital LLC purchased a new stake in Sysco in the 2nd quarter worth $38,000. Finally, Fairman Group LLC acquired a new stake in Sysco during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group boosted their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Truist Financial decreased their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Barclays increased their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Bank of America cut their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Stock Down 0.1 %

SYY stock opened at $74.36 on Monday. The company’s 50 day moving average is $76.53 and its two-hundred day moving average is $75.03. Sysco Co. has a twelve month low of $63.18 and a twelve month 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. The stock has a market cap of $36.53 billion, a P/E ratio of 19.13, a PEG ratio of 1.92 and a beta of 1.20.

Sysco (NYSE:SYY) last released its quarterly earnings data 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 company 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%. Sysco’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.34 earnings per share. Research analysts expect that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.74%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

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.