Regal Investment Advisors LLC boosted its position in Sysco Co. (NYSE:SYY – Get Rating) by 4.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 17,846 shares of the company's stock after acquiring an additional 718 shares during the quarter. Regal Investment Advisors LLC's holdings in Sysco were worth $1,262,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Standard Family Office LLC acquired a new position in Sysco in the 3rd quarter worth $25,000. Karp Capital Management Corp acquired a new position in Sysco in the 3rd quarter worth $27,000. American National Bank lifted its holdings in Sysco by 397.6% in the 3rd quarter. American National Bank now owns 408 shares of the company's stock worth $29,000 after buying an additional 326 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new position in Sysco in the 3rd quarter worth $32,000. Finally, Focused Wealth Management Inc lifted its holdings in Sysco by 128.7% in the 3rd quarter. Focused Wealth Management Inc now owns 468 shares of the company's stock worth $33,000 after buying an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 81.18% of the company's stock.
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Sysco Price Performance
NYSE SYY opened at $73.13 on Friday. Sysco Co. has a 52 week low of $70.61 and a 52 week high of $91.53. The company has a current ratio of 1.24, a quick ratio of 0.68 and a debt-to-equity ratio of 7.20. The stock has a market cap of $37.12 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 2.05 and a beta of 1.10. The company has a 50-day moving average price of $77.35 and a two-hundred day moving average price of $79.44.
Sysco (NYSE:SYY – Get Rating) last posted its earnings results on Tuesday, January 31st. The company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.04). Sysco had a return on equity of 140.94% and a net margin of 1.93%. The firm had revenue of $18.59 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter last year, the company posted $0.57 EPS. Sysco's revenue for the quarter was up 13.9% on a year-over-year basis. Analysts forecast that Sysco Co. will post 4.04 EPS for the current year.
Sysco Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Thursday, April 6th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Wednesday, April 5th. Sysco's dividend payout ratio (DPR) is 70.76%.
Analysts Set New Price Targets
A number of equities analysts have commented on the stock. BMO Capital Markets cut their price objective on shares of Sysco from $96.00 to $90.00 and set an "outperform" rating on the stock in a report on Wednesday, February 1st. Credit Suisse Group cut their target price on shares of Sysco from $100.00 to $94.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 1st. Morgan Stanley cut their target price on shares of Sysco from $87.00 to $86.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 1st. Truist Financial cut their target price on shares of Sysco from $92.00 to $88.00 and set a "buy" rating on the stock in a research note on Wednesday, February 1st. Finally, Barclays cut their target price on shares of Sysco from $92.00 to $87.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 1st. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $89.67.
Sysco Profile
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Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.
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