Sysco Co. (NYSE:SYY) Shares Bought by Vest Financial LLC

Vest Financial LLC boosted its position in Sysco Co. (NYSE:SYY - Free Report) by 18.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 677,256 shares of the company's stock after purchasing an additional 103,216 shares during the period. Vest Financial LLC owned about 0.14% of Sysco worth $52,867,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SYY. Fisher Asset Management LLC raised its position in shares of Sysco by 52.5% during the 4th quarter. Fisher Asset Management LLC now owns 8,084 shares of the company's stock valued at $591,000 after buying an additional 2,784 shares in the last quarter. Alaska Permanent Fund Corp bought a new position in shares of Sysco in the 1st quarter worth about $105,000. Fulton Bank N.A. boosted its position in shares of Sysco by 9.0% in the 1st quarter. Fulton Bank N.A. now owns 3,085 shares of the company's stock worth $250,000 after purchasing an additional 256 shares in the last quarter. Wedmont Private Capital boosted its holdings in Sysco by 4.8% in the first quarter. Wedmont Private Capital now owns 4,622 shares of the company's stock worth $358,000 after acquiring an additional 210 shares in the last quarter. Finally, Gulf International Bank UK Ltd grew its position in Sysco by 0.6% during the 1st quarter. Gulf International Bank UK Ltd now owns 41,817 shares of the company's stock valued at $3,394,000 after purchasing an additional 251 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Performance

Sysco stock traded up $0.16 during midday trading on Friday, hitting $75.54. 3,048,198 shares of the company's stock were exchanged, compared to its average volume of 3,163,805. Sysco Co. has a 12-month low of $64.28 and a 12-month high of $82.89. The firm's 50 day simple moving average is $76.55 and its 200 day simple moving average is $74.85. 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 market cap of $37.62 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 1.96 and a beta of 1.20.

Sysco (NYSE:SYY - Get Free Report) last posted 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 company had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company's revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $1.34 EPS. Equities research analysts predict that Sysco Co. will post 4.6 EPS for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Friday, October 4th. Sysco's payout ratio is 49.76%.

Analyst Ratings Changes

A number of brokerages have weighed in on SYY. Truist Financial decreased their target price on shares of Sysco from $87.00 to $85.00 and set a "buy" rating for the company in a research note on Monday, June 24th. Bank of America reduced their target price on Sysco from $91.00 to $87.00 and set a "buy" rating on the stock in a report on Thursday, July 18th. Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. StockNews.com raised Sysco from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley cut their target price on Sysco from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Sysco currently 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.