MainStreet Investment Advisors LLC Buys New Shares in Sysco Co. (NYSE:SYY)

MainStreet Investment Advisors LLC purchased a new position in shares of Sysco Co. (NYSE:SYY) in the second quarter, HoldingsChannel reports. The fund purchased 28,861 shares of the company’s stock, valued at approximately $2,060,000.

Other large investors have also added to or reduced their stakes in the company. TruNorth Capital Management LLC acquired a new stake in shares of Sysco during the second quarter worth about $25,000. First United Bank & Trust acquired a new stake in Sysco during the 4th quarter valued at approximately $26,000. OFI Invest Asset Management purchased a new stake in shares of Sysco in the 1st quarter valued at $31,000. Burkett Financial Services LLC acquired a new stake in shares of Sysco in the fourth quarter worth $30,000. Finally, JFS Wealth Advisors LLC lifted its position in Sysco by 39.3% during the fourth quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 141 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SYY shares. JPMorgan Chase & Co. reduced their price objective on Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. BMO Capital Markets reduced their price target on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. Barclays lifted their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley lowered their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average price target of $85.27.

Sysco Stock Performance

NYSE:SYY opened at $78.58 on Friday. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The company’s 50-day moving average is $74.61 and its two-hundred day moving average is $75.81. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89. The firm has a market capitalization of $39.13 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 2.05 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.01. The firm had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. Sysco’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.34 EPS. Analysts forecast that Sysco Co. will post 4.6 EPS for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders 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 dividend on an annualized basis and a yield of 2.60%. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

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.