Van ECK Associates Corp Has $5.53 Million Holdings in Sysco Co. (NYSE:SYY)

Van ECK Associates Corp increased its holdings in shares of Sysco Co. (NYSE:SYY) by 9.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,097 shares of the company’s stock after buying an additional 5,781 shares during the period. Van ECK Associates Corp’s holdings in Sysco were worth $5,528,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. HB Wealth Management LLC lifted its stake in shares of Sysco by 2.4% in the 1st quarter. HB Wealth Management LLC now owns 18,040 shares of the company’s stock valued at $1,465,000 after purchasing an additional 423 shares during the period. SpiderRock Advisors LLC acquired a new position in Sysco in the first quarter valued at about $421,000. Mitchell Sinkler & Starr PA boosted its holdings in Sysco by 45.7% during the first quarter. Mitchell Sinkler & Starr PA now owns 8,865 shares of the company’s stock worth $720,000 after buying an additional 2,780 shares during the last quarter. Vest Financial LLC grew its position in shares of Sysco by 20.7% during the 1st quarter. Vest Financial LLC now owns 496,859 shares of the company’s stock worth $40,335,000 after buying an additional 85,251 shares during the period. Finally, Caprock Group LLC increased its stake in shares of Sysco by 17.3% in the 1st quarter. Caprock Group LLC now owns 10,563 shares of the company’s stock valued at $858,000 after acquiring an additional 1,558 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Down 0.6 %

Shares of SYY traded down $0.40 during mid-day trading on Friday, hitting $69.65. 1,106,272 shares of the company’s stock were exchanged, compared to its average volume of 3,151,036. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a market cap of $34.68 billion, a PE ratio of 17.09, a P/E/G ratio of 1.88 and a beta of 1.18. The company has a 50-day simple moving average of $73.38 and a 200 day simple moving average of $76.27.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The business had revenue of $19.38 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same quarter last year, the firm earned $0.90 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts forecast that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a dividend of $0.51 per share. This is a positive change from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 annualized dividend and a dividend yield of 2.93%. Sysco’s payout ratio is 48.78%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SYY shares. JPMorgan Chase & Co. decreased their price objective on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. UBS Group lowered their price objective on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Barclays reduced their target price on Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Finally, Piper Sandler decreased their price objective on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $84.90.

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.