Northwest Investment Counselors LLC Grows Position in Sysco Co. (NYSE:SYY)

Northwest Investment Counselors LLC boosted its position in Sysco Co. (NYSE:SYY) by 1.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 40,336 shares of the company’s stock after purchasing an additional 393 shares during the period. Northwest Investment Counselors LLC’s holdings in Sysco were worth $3,149,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Capital Research Global Investors boosted its holdings in Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after acquiring an additional 3,504,740 shares during the period. ProShare Advisors LLC boosted its position in Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after purchasing an additional 2,408,226 shares in the last quarter. Swedbank AB purchased a new position in shares of Sysco in the first quarter valued at approximately $178,824,000. Diamond Hill Capital Management Inc. increased its holdings in shares of Sysco by 49.8% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after purchasing an additional 1,997,895 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Sysco by 26.1% in the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after purchasing an additional 1,782,180 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on SYY. Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. upped their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Truist Financial lowered their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Morgan Stanley reduced their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Finally, StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average price target of $86.08.

Sysco Stock Down 0.5 %

SYY stock traded down $0.36 during trading hours on Monday, reaching $75.18. 1,184,667 shares of the stock were exchanged, compared to its average volume of 3,154,055. The firm’s 50-day moving average is $76.55 and its 200-day moving average is $74.85. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The company has a market cap of $36.93 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.97 and a beta of 1.20. Sysco Co. has a 12 month low of $64.28 and a 12 month high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.34 earnings per share. On average, equities research analysts expect that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

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 given a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.71%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

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.