Waddell & Associates LLC Buys 375 Shares of Sysco Co. (NYSE:SYY)

Waddell & Associates LLC grew its stake in shares of Sysco Co. (NYSE:SYY) by 7.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,379 shares of the company’s stock after acquiring an additional 375 shares during the quarter. Waddell & Associates LLC’s holdings in Sysco were worth $384,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SYY. TruNorth Capital Management LLC bought a new stake in Sysco during the 2nd quarter valued at about $25,000. First United Bank & Trust purchased a new stake in shares of Sysco during the fourth quarter valued at approximately $26,000. OFI Invest Asset Management bought a new stake in shares of Sysco during the first quarter valued at approximately $31,000. Burkett Financial Services LLC purchased a new position in Sysco in the 4th quarter worth approximately $30,000. Finally, JFS Wealth Advisors LLC lifted its position in Sysco by 39.3% in the 4th quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $37,000 after acquiring an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

SYY stock traded down $0.40 during midday trading on Friday, reaching $78.58. 2,155,147 shares of the company’s stock traded hands, compared to its average volume of 2,165,221. The stock’s 50-day moving average is $74.61 and its 200 day moving average is $75.81. The stock has a market cap of $39.13 billion, a P/E ratio of 19.17, a PEG ratio of 2.05 and a beta of 1.20. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19.

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

Sysco Announces Dividend

The company also recently declared 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. This represents a $2.04 annualized dividend and a yield of 2.60%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio is currently 49.76%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays lifted their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Morgan Stanley decreased their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Truist Financial lowered their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Bank of America reduced their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and a consensus target price 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.