Peapack Gladstone Financial Corp Has $17.26 Million Stock Position in Sysco Co. (NYSE:SYY)

Peapack Gladstone Financial Corp boosted its holdings in Sysco Co. (NYSE:SYY - Free Report) by 18.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 225,737 shares of the company's stock after buying an additional 35,045 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Sysco were worth $17,259,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Benjamin Edwards Inc. boosted its position in shares of Sysco by 109.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 14,965 shares of the company's stock valued at $1,170,000 after purchasing an additional 7,806 shares during the period. IHT Wealth Management LLC boosted its holdings in shares of Sysco by 45.5% in the third quarter. IHT Wealth Management LLC now owns 6,797 shares of the company's stock worth $530,000 after buying an additional 2,124 shares during the period. Morse Asset Management Inc purchased a new position in shares of Sysco in the third quarter worth approximately $390,000. Quantinno Capital Management LP raised its holdings in shares of Sysco by 92.7% during the third quarter. Quantinno Capital Management LP now owns 60,394 shares of the company's stock valued at $4,714,000 after acquiring an additional 29,050 shares during the period. Finally, Stifel Financial Corp lifted its position in shares of Sysco by 3.7% in the 3rd quarter. Stifel Financial Corp now owns 503,956 shares of the company's stock valued at $39,338,000 after acquiring an additional 18,052 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Stock Up 1.0 %

NYSE:SYY traded up $0.71 during trading hours on Friday, reaching $70.39. The company's stock had a trading volume of 756,428 shares, compared to its average volume of 3,314,512. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The company has a market cap of $34.44 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. Sysco Co. has a one year low of $67.12 and a one year high of $82.23. The business's 50-day moving average is $72.63 and its 200-day moving average is $74.80.

Remove Ads

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the prior year, the firm posted $0.89 earnings per share. Equities research analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. Sysco's payout ratio is presently 52.44%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SYY shares. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. Barclays decreased their target price on Sysco from $93.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. UBS Group dropped their price target on Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Melius Research upgraded Sysco to a "hold" rating in a research report on Wednesday, December 18th. Finally, Morgan Stanley dropped their target price on Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $84.77.

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.