First Pacific Financial Purchases 266 Shares of Sysco Co. (NYSE:SYY)

First Pacific Financial raised its holdings in Sysco Co. (NYSE:SYY) by 2.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,751 shares of the company’s stock after purchasing an additional 266 shares during the period. First Pacific Financial’s holdings in Sysco were worth $839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. ORG Partners LLC boosted its stake in Sysco by 3,159.0% in the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after buying an additional 6,855 shares in the last quarter. Mizuho Markets Americas LLC lifted its holdings in Sysco by 102.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock valued at $11,355,000 after purchasing an additional 70,660 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in Sysco by 11.6% during the second quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock worth $12,577,000 after buying an additional 18,296 shares during the last quarter. Diversify Advisory Services LLC bought a new position in shares of Sysco in the first quarter valued at approximately $1,677,000. Finally, Shell Asset Management Co. boosted its holdings in shares of Sysco by 205.0% in the 1st quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock worth $1,161,000 after acquiring an additional 9,615 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

SYY has been the subject of a number of research reports. Truist Financial lowered their target price on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Jefferies Financial Group raised their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Morgan Stanley reduced their target price 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. Barclays raised 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. Finally, Bank of America reduced their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.08.

Sysco Trading Up 0.5 %

NYSE SYY traded up $0.38 on Tuesday, reaching $75.60. The company had a trading volume of 3,756,656 shares, compared to its average volume of 3,163,190. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. Sysco Co. has a 52 week low of $63.18 and a 52 week high of $82.89. The stock has a market cap of $37.14 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.92 and a beta of 1.20. The stock’s 50 day moving average is $76.54 and its 200-day moving average is $74.99.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $1.34 earnings per share. Equities analysts predict that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently disclosed 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. This represents a $2.04 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio is 52.44%.

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.