1,988 Shares in Sysco Co. (NYSE:SYY) Acquired by Paladin Wealth LLC

Paladin Wealth LLC bought a new stake in shares of Sysco Co. (NYSE:SYY) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,988 shares of the company’s stock, valued at approximately $155,000.

Other hedge funds also recently bought and sold shares of the company. Armstrong Advisory Group Inc. raised its stake in shares of Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares during the period. TruNorth Capital Management LLC acquired a new stake in shares of Sysco during the second quarter valued at about $25,000. OFI Invest Asset Management purchased a new stake in shares of Sysco during the first quarter worth about $31,000. Fairscale Capital LLC purchased a new position in Sysco in the second quarter valued at about $38,000. Finally, Fairman Group LLC acquired a new stake in shares of Sysco during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

SYY has been the subject of a number of research reports. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Jefferies Financial Group raised their target price on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Bank of America decreased their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, Barclays boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $86.08.

Sysco Trading Up 1.1 %

SYY opened at $75.26 on Tuesday. Sysco Co. has a twelve month low of $63.18 and a twelve month high of $82.89. The firm has a market cap of $36.97 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 1.92 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’s fifty day moving average is $76.54 and its two-hundred day moving average is $74.99.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $20.51 billion. During the same period in the previous year, the firm earned $1.34 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. Equities research analysts anticipate that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio is currently 52.44%.

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.