Brave Asset Management Inc. Takes $201,000 Position in Sysco Co. (NYSE:SYY)

Brave Asset Management Inc. acquired a new stake in Sysco Co. (NYSE:SYYGet Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,373 shares of the company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Oliver Lagore Vanvalin Investment Group acquired a new position in Sysco in the 1st quarter worth about $29,000. DeDora Capital Inc. acquired a new position in Sysco in the 1st quarter worth about $31,000. Column Capital Advisors LLC raised its holdings in shares of Sysco by 4,900.0% during the first quarter. Column Capital Advisors LLC now owns 400 shares of the company’s stock valued at $33,000 after acquiring an additional 392 shares during the last quarter. Mascoma Wealth Management LLC raised its holdings in shares of Sysco by 80.0% during the first quarter. Mascoma Wealth Management LLC now owns 414 shares of the company’s stock valued at $34,000 after acquiring an additional 184 shares during the last quarter. Finally, MayTech Global Investments LLC acquired a new position in shares of Sysco during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 82.43% of the company’s stock.

Sysco Trading Down 3.7 %

Sysco stock traded down $2.87 during mid-day trading on Friday, hitting $74.51. The company’s stock had a trading volume of 72,391 shares, compared to its average volume of 1,773,847. The firm has a market capitalization of $37.71 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 2.07 and a beta of 1.01. Sysco Co. has a 1 year low of $68.05 and a 1 year high of $91.53. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 7.28. The stock’s fifty day moving average is $83.98 and its two-hundred day moving average is $83.51.

Sysco (NYSE:SYYGet Rating) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.03. Sysco had a return on equity of 119.55% and a net margin of 1.98%. The company had revenue of $18.96 billion during the quarter, compared to analyst estimates of $18.29 billion. During the same period in the prior year, the business posted $0.71 earnings per share. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, analysts anticipate that Sysco Co. will post 4.2 EPS for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Thursday, October 6th. Sysco’s dividend payout ratio (DPR) is 74.24%.

Analyst Ratings Changes

A number of brokerages have commented on SYY. Barclays reduced their target price on Sysco to $100.00 in a report on Monday, August 15th. Truist Financial reduced their target price on Sysco from $98.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 14th. Stephens initiated coverage on Sysco in a research report on Thursday. They issued an “overweight” rating and a $90.00 price target for the company. Finally, Credit Suisse Group dropped their price target on Sysco from $107.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, August 10th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.67.

Sysco Profile

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Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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