Columbus Macro LLC Raises Position in Sysco Co. (NYSE:SYY)

Columbus Macro LLC lifted its stake in Sysco Co. (NYSE:SYY) by 6.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,048 shares of the company’s stock after purchasing an additional 1,509 shares during the quarter. Columbus Macro LLC’s holdings in Sysco were worth $2,012,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYY. Plimoth Trust Co. LLC increased its position in Sysco by 0.6% during the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after acquiring an additional 139 shares during the last quarter. Meeder Advisory Services Inc. grew its holdings in Sysco by 1.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock valued at $679,000 after purchasing an additional 141 shares during the last quarter. Koshinski Asset Management Inc. raised its position in Sysco by 3.1% in the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after purchasing an additional 146 shares during the period. NorthRock Partners LLC lifted its stake in Sysco by 3.7% in the first quarter. NorthRock Partners LLC now owns 4,121 shares of the company’s stock worth $335,000 after purchasing an additional 147 shares during the last quarter. Finally, Winthrop Advisory Group LLC boosted its position in shares of Sysco by 3.7% during the first quarter. Winthrop Advisory Group LLC now owns 4,120 shares of the company’s stock valued at $334,000 after buying an additional 148 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

SYY has been the topic of several recent analyst reports. Barclays increased their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Truist Financial lowered their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Finally, Bank of America dropped their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and an average target price of $86.08.

Sysco Stock Up 0.2 %

NYSE SYY traded up $0.16 during midday trading on Friday, hitting $75.54. 3,048,198 shares of the company traded hands, compared to its average volume of 3,163,805. The company has a market cap of $37.62 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.96 and a beta of 1.20. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. Sysco Co. has a 52 week low of $64.28 and a 52 week high of $82.89. The company’s 50-day simple moving average is $76.55 and its 200-day simple moving average is $74.89.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. The company 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%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.34 earnings per share. As a group, equities research analysts forecast that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, October 4th. Sysco’s payout ratio is presently 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.