Dakota Wealth Management Boosts Holdings in Sysco Co. (NYSE:SYY)

Dakota Wealth Management increased its position in shares of Sysco Co. (NYSE:SYY) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,037 shares of the company’s stock after buying an additional 217 shares during the quarter. Dakota Wealth Management’s holdings in Sysco were worth $1,876,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Values First Advisors Inc. purchased a new stake in Sysco in the third quarter valued at $53,000. Assenagon Asset Management S.A. lifted its position in Sysco by 10.7% in the third quarter. Assenagon Asset Management S.A. now owns 15,997 shares of the company’s stock valued at $1,249,000 after buying an additional 1,551 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in Sysco by 0.7% during the third quarter. IFM Investors Pty Ltd now owns 98,361 shares of the company’s stock worth $7,678,000 after buying an additional 658 shares during the period. Taylor Frigon Capital Management LLC acquired a new stake in shares of Sysco during the third quarter valued at about $1,589,000. Finally, Riverwater Partners LLC raised its stake in shares of Sysco by 14.8% in the 3rd quarter. Riverwater Partners LLC now owns 6,592 shares of the company’s stock valued at $510,000 after acquiring an additional 852 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Trading Down 0.6 %

NYSE:SYY opened at $73.92 on Friday. Sysco Co. has a 1 year low of $64.28 and a 1 year high of $82.89. The stock has a market cap of $36.31 billion, a P/E ratio of 19.00, a P/E/G ratio of 1.95 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 stock has a 50-day simple moving average of $76.42 and a 200-day simple moving average of $74.80.

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 analysts’ consensus estimates 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 company posted $1.34 earnings per share. As a group, analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 4th were given a $0.51 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.76%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SYY shares. JPMorgan Chase & Co. lifted their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Barclays boosted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Bank of America lowered their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Morgan Stanley cut their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Finally, Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average target price of $86.08.

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.