Mission Wealth Management LP Has $579,000 Position in Sysco Co. (NYSE:SYY)

Mission Wealth Management LP raised its stake in Sysco Co. (NYSE:SYY) by 28.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 7,128 shares of the company’s stock after buying an additional 1,564 shares during the period. Mission Wealth Management LP’s holdings in Sysco were worth $579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of SYY. First United Bank & Trust bought a new stake in Sysco during the fourth quarter worth about $26,000. AdvisorNet Financial Inc raised its holdings in Sysco by 74.0% in the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after buying an additional 159 shares during the last quarter. OFI Invest Asset Management bought a new position in Sysco in the 1st quarter valued at approximately $31,000. Burkett Financial Services LLC acquired a new stake in Sysco during the 4th quarter valued at approximately $30,000. Finally, Headlands Technologies LLC acquired a new stake in Sysco during the 4th quarter valued at approximately $34,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. BMO Capital Markets reduced their price objective on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Piper Sandler reduced their price objective on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Morgan Stanley reduced their price objective on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, May 23rd. Finally, Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.90.

Sysco Stock Up 0.3 %

NYSE:SYY traded up $0.21 during trading hours on Friday, hitting $69.75. 2,308,655 shares of the company traded hands, compared to its average volume of 3,712,760. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77. The firm’s 50-day simple moving average is $73.23 and its 200-day simple moving average is $76.25. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The company has a market cap of $34.73 billion, a PE ratio of 17.01, a PEG ratio of 1.88 and a beta of 1.18.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The company had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 EPS. Equities analysts predict that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.92%. This is a boost from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. Sysco’s payout ratio is presently 48.78%.

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.