Riverwater Partners LLC Grows Stock Position in Sysco Co. (NYSE:SYY)

Riverwater Partners LLC boosted its holdings in Sysco Co. (NYSE:SYY) by 14.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,592 shares of the company’s stock after acquiring an additional 852 shares during the period. Riverwater Partners LLC’s holdings in Sysco were worth $510,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC purchased a new stake in Sysco in the 2nd quarter valued at approximately $25,000. Armstrong Advisory Group Inc. lifted its position in shares of Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares in the last quarter. Fairscale Capital LLC purchased a new stake in shares of Sysco in the second quarter valued at $38,000. LRI Investments LLC acquired a new stake in shares of Sysco during the first quarter valued at $45,000. Finally, Livelsberger Financial Advisory purchased a new stake in Sysco during the 3rd quarter worth about $47,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SYY has been the topic of several analyst reports. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. Barclays lifted their target price 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. increased their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Morgan Stanley lowered their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Finally, Bank of America reduced their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Price Performance

SYY opened at $74.63 on Thursday. Sysco Co. has a 52-week low of $64.28 and a 52-week high of $82.89. The company has a 50 day moving average of $76.51 and a two-hundred day moving average of $74.82. The company has a market cap of $36.66 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.95 and a beta of 1.20. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last announced its quarterly 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 firm had revenue of $20.56 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $1.34 EPS. On average, analysts expect that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is 52.44%.

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.