Sysco Co. (NYSE:SYY) Shares Bought by Atticus Wealth Management LLC

Atticus Wealth Management LLC raised its position in Sysco Co. (NYSE:SYY) by 17.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,000 shares of the company’s stock after buying an additional 150 shares during the period. Atticus Wealth Management LLC’s holdings in Sysco were worth $81,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Capital World Investors acquired a new position in shares of Sysco during the 4th quarter worth approximately $683,599,000. Norges Bank acquired a new position in shares of Sysco during the 4th quarter worth approximately $450,794,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Sysco by 132.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock worth $267,177,000 after purchasing an additional 2,084,501 shares during the last quarter. Capital Research Global Investors acquired a new position in shares of Sysco during the 4th quarter worth approximately $227,241,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Sysco by 8.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,036,100 shares of the company’s stock worth $222,029,000 after purchasing an additional 240,671 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Trading Down 1.5 %

NYSE SYY traded down $1.08 on Friday, reaching $71.39. The stock had a trading volume of 15,189,200 shares, compared to its average volume of 3,513,296. The firm has a market capitalization of $35.55 billion, a price-to-earnings ratio of 17.41, a P/E/G ratio of 2.08 and a beta of 1.17. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The stock has a fifty day moving average price of $73.94 and a two-hundred day moving average price of $76.40.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The company had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 earnings per share. As a group, sell-side analysts forecast that Sysco Co. will post 4.29 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.86%. This is a positive change from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio is currently 49.76%.

Wall Street Analyst Weigh In

SYY has been the topic of several recent research reports. Truist Financial lowered their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. BMO Capital Markets decreased their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Tuesday, May 28th. Finally, Barclays decreased their price objective on Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Sysco has an average rating of “Moderate Buy” and an average target price of $84.90.

Sysco 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.