Means Investment CO. Inc. Invests $218,000 in Sysco Co. (NYSE:SYY)

Means Investment CO. Inc. bought a new stake in Sysco Co. (NYSE:SYY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,797 shares of the company’s stock, valued at approximately $218,000.

Other institutional investors have also added to or reduced their stakes in the company. Plimoth Trust Co. LLC increased its stake in shares of Sysco by 0.6% during the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after purchasing an additional 139 shares during the last quarter. Meeder Advisory Services Inc. raised its stake in Sysco by 1.7% in the first quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock valued at $679,000 after buying an additional 141 shares during the period. Koshinski Asset Management Inc. lifted its position in shares of Sysco by 3.1% in the third quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock valued at $383,000 after buying an additional 146 shares during the last quarter. NorthRock Partners LLC lifted its position in shares of Sysco by 3.7% in the first quarter. NorthRock Partners LLC now owns 4,121 shares of the company’s stock valued at $335,000 after buying an additional 147 shares during the last quarter. Finally, Winthrop Advisory Group LLC boosted its stake in shares of Sysco by 3.7% during the 1st quarter. Winthrop Advisory Group LLC now owns 4,120 shares of the company’s stock worth $334,000 after acquiring an additional 148 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

Shares of NYSE SYY opened at $75.54 on Friday. The business has a fifty day moving average price of $76.55 and a two-hundred day moving average price of $74.89. The stock has a market capitalization of $37.62 billion, a PE ratio of 18.42, a P/E/G ratio of 1.96 and a beta of 1.20. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. Sysco Co. has a fifty-two week low of $64.28 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping 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 business had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. During the same quarter in the prior year, the business posted $1.34 earnings per share. Sysco’s revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts predict that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders 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 annualized dividend and a yield of 2.70%. Sysco’s dividend payout ratio is currently 49.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Truist Financial cut their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Bank of America cut 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. Finally, Morgan Stanley reduced their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.08.

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.