Atticus Wealth Management LLC Buys 300 Shares of Sysco Co. (NYSE:SYY)

Atticus Wealth Management LLC raised its stake in shares of Sysco Co. (NYSE:SYYGet Rating) by 13.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,500 shares of the company’s stock after acquiring an additional 300 shares during the quarter. Atticus Wealth Management LLC’s holdings in Sysco were worth $212,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SYY. Qube Research & Technologies Ltd purchased a new stake in shares of Sysco during the 1st quarter valued at $1,876,000. Wedmont Private Capital lifted its holdings in shares of Sysco by 17.0% during the 2nd quarter. Wedmont Private Capital now owns 3,599 shares of the company’s stock valued at $305,000 after purchasing an additional 522 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in Sysco by 23.0% in the 2nd quarter. Foundations Investment Advisors LLC now owns 4,162 shares of the company’s stock worth $353,000 after acquiring an additional 779 shares during the last quarter. Amalgamated Bank raised its stake in Sysco by 4.5% in the 1st quarter. Amalgamated Bank now owns 135,525 shares of the company’s stock worth $11,066,000 after acquiring an additional 5,796 shares during the last quarter. Finally, MML Investors Services LLC raised its stake in Sysco by 5.1% in the 4th quarter. MML Investors Services LLC now owns 38,522 shares of the company’s stock worth $3,026,000 after acquiring an additional 1,882 shares during the last quarter. Institutional investors own 82.43% of the company’s stock.

Sysco Trading Down 1.4 %

SYY stock opened at $78.45 on Thursday. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 7.28. Sysco Co. has a 12-month low of $68.05 and a 12-month high of $91.53. The stock has a market cap of $39.70 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 2.10 and a beta of 1.01. The business’s 50-day moving average is $84.17 and its 200 day moving average is $83.51.

Sysco (NYSE:SYYGet Rating) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.03. Sysco had a return on equity of 119.55% and a net margin of 1.98%. The company had revenue of $18.96 billion for the quarter, compared to analysts’ expectations of $18.29 billion. During the same period in the previous year, the firm posted $0.71 EPS. Sysco’s revenue was up 17.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Sysco Co. will post 4.2 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Thursday, October 6th. Sysco’s dividend payout ratio (DPR) is 74.24%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SYY shares. Credit Suisse Group reduced their target price on Sysco from $107.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, August 10th. Barclays cut their price target on Sysco to $100.00 in a research report on Monday, August 15th. JPMorgan Chase & Co. raised Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 price target on the stock in a research report on Thursday, May 26th. Truist Financial cut their price target on Sysco from $98.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, August 10th. Finally, StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 14th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.13.

Sysco Profile

(Get Rating)

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

Further Reading

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Co. (NYSE:SYYGet Rating).

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

Receive News & Ratings for Sysco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco and related companies with MarketBeat.com's FREE daily email newsletter.