Sysco Co. (NYSE:SYY) Shares Bought by Arkadios Wealth Advisors

Arkadios Wealth Advisors increased its stake in Sysco Co. (NYSE:SYY) by 49.3% in the third quarter, Holdings Channel reports. The firm owned 5,210 shares of the company’s stock after purchasing an additional 1,721 shares during the period. Arkadios Wealth Advisors’ holdings in Sysco were worth $407,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SYY. Claro Advisors LLC acquired a new stake in Sysco during the 1st quarter valued at approximately $206,000. Allspring Global Investments Holdings LLC lifted its stake in Sysco by 23.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 500,562 shares of the company’s stock valued at $40,636,000 after acquiring an additional 94,231 shares during the period. Norden Group LLC acquired a new stake in Sysco during the 1st quarter valued at approximately $434,000. First Trust Direct Indexing L.P. lifted its stake in Sysco by 11.8% during the 1st quarter. First Trust Direct Indexing L.P. now owns 20,268 shares of the company’s stock valued at $1,645,000 after acquiring an additional 2,135 shares during the period. Finally, American National Bank & Trust Co. VA acquired a new stake in Sysco during the 1st quarter valued at approximately $266,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

Shares of NYSE SYY opened at $74.31 on Thursday. The firm has a market cap of $36.50 billion, a PE ratio of 19.10, a PEG ratio of 1.93 and a beta of 1.20. The firm has a fifty day moving average of $76.28 and a 200 day moving average of $74.74. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. Sysco Co. has a one year low of $64.28 and a one year high of $82.89.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.47 billion. During the same period in the previous year, the company earned $1.07 EPS. Sysco’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, research analysts predict that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date was Friday, October 4th. Sysco’s payout ratio is 52.44%.

Analysts Set New Price Targets

SYY has been the subject of several analyst reports. Jefferies Financial Group boosted their target price on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Morgan Stanley decreased their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Wells Fargo & Company decreased their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday. Bank of America decreased their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, JPMorgan Chase & Co. 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 Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average target price of $85.77.

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.