Isthmus Partners LLC Raises Stake in Sysco Co. (NYSE:SYY)

Isthmus Partners LLC increased its stake in Sysco Co. (NYSE:SYY) by 0.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 147,790 shares of the company’s stock after buying an additional 1,266 shares during the quarter. Sysco accounts for approximately 4.1% of Isthmus Partners LLC’s portfolio, making the stock its 14th largest holding. Isthmus Partners LLC’s holdings in Sysco were worth $10,551,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. TruNorth Capital Management LLC purchased a new stake in Sysco during the second quarter valued at about $25,000. First United Bank & Trust purchased a new stake in Sysco during the fourth quarter valued at about $26,000. Verity & Verity LLC purchased a new stake in Sysco during the first quarter valued at about $26,000. Burkett Financial Services LLC purchased a new stake in Sysco during the fourth quarter valued at about $30,000. Finally, OFI Invest Asset Management bought a new stake in shares of Sysco during the first quarter valued at about $31,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Down 0.5 %

SYY traded down $0.40 during trading on Friday, reaching $78.58. The stock had a trading volume of 2,155,147 shares, compared to its average volume of 2,165,221. The stock’s 50 day moving average is $74.61 and its two-hundred day moving average is $75.84. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The company has a market capitalization of $39.13 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 2.05 and a beta of 1.20. Sysco Co. has a one year low of $62.24 and a one year 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. During the same quarter in the prior year, the company earned $1.34 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, analysts expect that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.60%. Sysco’s payout ratio is presently 49.76%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Tuesday, May 28th. Morgan Stanley cut their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. BMO Capital Markets dropped their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Finally, Barclays raised their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and an average price target of $85.27.

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.