2,631 Shares in Sysco Co. (NYSE:SYY) Bought by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Sysco Co. (NYSE:SYY) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,631 shares of the company’s stock, valued at approximately $214,000.

A number of other hedge funds have also bought and sold shares of the business. Capital World Investors bought a new stake in shares of Sysco in the fourth quarter valued at $683,599,000. Norges Bank bought a new stake in shares of Sysco in the fourth quarter valued at $450,794,000. The Manufacturers Life Insurance Company raised its stake in shares of Sysco by 132.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock valued at $267,177,000 after buying an additional 2,084,501 shares during the period. Capital Research Global Investors bought a new stake in shares of Sysco in the fourth quarter valued at $227,241,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Sysco by 8.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,036,100 shares of the company’s stock valued at $222,029,000 after buying an additional 240,671 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SYY. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research note on Tuesday, May 28th. Bank of America decreased their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday. BMO Capital Markets reduced their target price on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. UBS Group reduced their target price on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Morgan Stanley lowered 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. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $85.00.

Sysco Price Performance

Shares of Sysco stock traded down $0.74 during trading on Friday, reaching $73.62. 2,038,520 shares of the stock traded hands, compared to its average volume of 3,441,111. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The business has a fifty day simple moving average of $72.60 and a two-hundred day simple moving average of $76.17. The company has a market capitalization of $36.66 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 1.98 and a beta of 1.18. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The company had revenue of $19.38 billion during the quarter, compared to the consensus estimate of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. Sysco’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 earnings per share. Sell-side analysts expect that Sysco Co. will post 4.3 EPS for the current year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be paid a $0.51 dividend. This is an increase from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a yield of 2.77%. Sysco’s payout ratio is 49.76%.

About Sysco

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.