Impact Partnership Wealth LLC Grows Position in Sysco Co. (NYSE:SYY)

Impact Partnership Wealth LLC raised its position in shares of Sysco Co. (NYSE:SYY) by 157.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,491 shares of the company’s stock after acquiring an additional 5,806 shares during the period. Impact Partnership Wealth LLC’s holdings in Sysco were worth $678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. TruNorth Capital Management LLC bought a new stake in Sysco during the second quarter worth approximately $25,000. First United Bank & Trust purchased a new stake in Sysco during the 4th quarter valued at $26,000. Verity & Verity LLC bought a new stake in Sysco in the first quarter worth $26,000. Burkett Financial Services LLC purchased a new position in Sysco during the fourth quarter worth $30,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Sysco in the first quarter valued at $31,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Performance

Shares of SYY traded down $0.16 during trading hours on Thursday, hitting $78.58. The stock had a trading volume of 290,347 shares, compared to its average volume of 3,036,092. The firm has a market capitalization of $38.62 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 2.03 and a beta of 1.20. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The firm has a 50-day moving average price of $74.34 and a 200 day moving average price of $75.82. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89.

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

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors 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 annualized dividend and a dividend yield of 2.60%. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SYY. Barclays lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price target on Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Morgan Stanley decreased their price target 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. Bank of America cut their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Tuesday, May 28th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $85.27.

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.