Toroso Investments LLC Buys 678 Shares of Sysco Co. (NYSE:SYY)

Toroso Investments LLC lifted its position in Sysco Co. (NYSE:SYY) by 6.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,248 shares of the company’s stock after acquiring an additional 678 shares during the period. Toroso Investments LLC’s holdings in Sysco were worth $869,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SYY. Brinker Capital Investments LLC grew its stake in Sysco by 3.2% in the first quarter. Brinker Capital Investments LLC now owns 3,851 shares of the company’s stock valued at $314,000 after acquiring an additional 121 shares during the period. ETF Managers Group LLC lifted its stake in Sysco by 1.5% in the first quarter. ETF Managers Group LLC now owns 8,917 shares of the company’s stock valued at $689,000 after buying an additional 133 shares in the last quarter. Geller Advisors LLC increased its position in shares of Sysco by 4.2% during the first quarter. Geller Advisors LLC now owns 3,362 shares of the company’s stock worth $276,000 after acquiring an additional 136 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services raised its holdings in shares of Sysco by 2.9% during the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 4,858 shares of the company’s stock worth $375,000 after acquiring an additional 137 shares during the period. Finally, Red Door Wealth Management LLC boosted its stake in Sysco by 4.3% in the 1st quarter. Red Door Wealth Management LLC now owns 3,328 shares of the company’s stock worth $257,000 after purchasing an additional 137 shares during the period. Institutional investors and hedge funds own 80.60% of the company’s stock.

Sysco Stock Performance

SYY opened at $70.82 on Tuesday. The company has a debt-to-equity ratio of 5.15, a current ratio of 1.24 and a quick ratio of 0.72. The company has a market capitalization of $35.76 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 1.33 and a beta of 1.11. The business has a fifty day simple moving average of $72.32 and a 200 day simple moving average of $73.58. Sysco Co. has a 1 year low of $68.18 and a 1 year high of $87.41.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, August 1st. The company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. Sysco had a net margin of 2.32% and a return on equity of 133.27%. The business had revenue of $19.73 billion for the quarter, compared to analyst estimates of $19.95 billion. During the same period last year, the firm earned $1.15 earnings per share. Sysco’s revenue for the quarter was up 4.1% compared to the same quarter last year. Research analysts expect that Sysco Co. will post 4.29 EPS for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be issued a $0.50 dividend. The ex-dividend date is Thursday, October 5th. This represents a $2.00 annualized dividend and a yield of 2.82%. Sysco’s dividend payout ratio is presently 57.64%.

Analysts Set New Price Targets

Several equities research analysts have commented on SYY shares. Truist Financial cut their target price on Sysco from $88.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, August 2nd. StockNews.com began coverage on shares of Sysco in a research report on Thursday, August 17th. They set a “strong-buy” rating on the stock. Barclays lifted their target price on Sysco from $85.00 to $86.00 and gave the company an “overweight” rating in a research report on Wednesday, August 2nd. Morgan Stanley reissued an “equal weight” rating and set a $79.00 price target on shares of Sysco in a research report on Wednesday, August 2nd. Finally, Stephens reiterated an “overweight” rating and set a $90.00 price objective on shares of Sysco in a research note on Tuesday, August 1st. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.91.

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.