Lynch & Associates IN Grows Stock Holdings in Sysco Co. (NYSE:SYY)

Lynch & Associates IN grew its stake in shares of Sysco Co. (NYSE:SYY) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,107 shares of the company’s stock after acquiring an additional 1,679 shares during the period. Lynch & Associates IN’s holdings in Sysco were worth $4,434,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. TruNorth Capital Management LLC purchased a new stake in Sysco during the 2nd quarter worth about $25,000. First United Bank & Trust bought a new stake in shares of Sysco during the fourth quarter valued at about $26,000. Verity & Verity LLC purchased a new stake in shares of Sysco in the first quarter worth about $26,000. Burkett Financial Services LLC bought a new position in shares of Sysco in the fourth quarter valued at approximately $30,000. Finally, OFI Invest Asset Management purchased a new position in Sysco during the first quarter valued at approximately $31,000. 83.41% of the stock is owned by institutional investors.

Sysco Stock Performance

NYSE:SYY opened at $78.58 on Friday. The company has a market capitalization of $39.13 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 2.05 and a beta of 1.20. The business has a 50 day moving average of $74.61 and a 200 day moving average of $75.81. 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 1-year low of $62.24 and a 1-year high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. During the same period in the previous year, the business posted $1.34 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts predict that Sysco Co. will post 4.6 earnings per share for the current fiscal 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 yield of 2.60%. Sysco’s payout ratio is 49.76%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SYY. JPMorgan Chase & Co. lowered their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Morgan Stanley dropped their price objective 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 decreased their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. BMO Capital Markets dropped their price target on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Finally, Truist Financial decreased their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $85.27.

Sysco 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.