Minneapolis Portfolio Management Group LLC Acquires 7,338 Shares of Sysco Co. (NYSE:SYY)

Minneapolis Portfolio Management Group LLC increased its holdings in shares of Sysco Co. (NYSE:SYY) by 3.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 247,190 shares of the company’s stock after purchasing an additional 7,338 shares during the period. Sysco accounts for 2.2% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 25th biggest holding. Minneapolis Portfolio Management Group LLC’s holdings in Sysco were worth $19,464,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Summitry LLC boosted its stake in shares of Sysco by 1.0% during the fourth quarter. Summitry LLC now owns 50,243 shares of the company’s stock valued at $3,731,000 after purchasing an additional 512 shares in the last quarter. Nicholas Company Inc. boosted its stake in Sysco by 49.0% in the fourth quarter. Nicholas Company Inc. now owns 93,500 shares of the company’s stock valued at $6,943,000 after acquiring an additional 30,745 shares in the last quarter. Allen Investment Management LLC boosted its stake in Sysco by 12.1% in the fourth quarter. Allen Investment Management LLC now owns 2,505,105 shares of the company’s stock valued at $186,029,000 after acquiring an additional 270,101 shares in the last quarter. Meyer Handelman Co. boosted its stake in Sysco by 1.9% in the fourth quarter. Meyer Handelman Co. now owns 574,368 shares of the company’s stock valued at $42,653,000 after acquiring an additional 10,650 shares in the last quarter. Finally, Waycross Partners LLC acquired a new stake in Sysco in the fourth quarter valued at approximately $2,693,000. Hedge funds and other institutional investors own 81.02% of the company’s stock.

Several equities research analysts have recently commented on the stock. Piper Sandler lifted their price objective on shares of Sysco from $82.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, March 18th. Morgan Stanley lifted their price objective on shares of Sysco from $76.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Monday, April 19th. Wells Fargo & Company lifted their price objective on shares of Sysco from $89.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday. Zacks Investment Research downgraded shares of Sysco from a “hold” rating to a “sell” rating and set a $77.00 price objective for the company. in a research note on Wednesday, February 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Sysco from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, April 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $80.22.

SYY opened at $84.04 on Tuesday. The company has a fifty day moving average of $80.83 and a two-hundred day moving average of $74.96. Sysco Co. has a fifty-two week low of $44.17 and a fifty-two week high of $85.15. The stock has a market capitalization of $42.90 billion, a price-to-earnings ratio of -1,200.40, a PEG ratio of 3.79 and a beta of 1.38. The company has a debt-to-equity ratio of 9.56, a quick ratio of 1.30 and a current ratio of 1.73.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, May 4th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $11.82 billion for the quarter, compared to analyst estimates of $12.02 billion. Sysco had a negative net margin of 0.04% and a positive return on equity of 39.64%. Sysco’s quarterly revenue was down 13.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 earnings per share. On average, equities research analysts forecast that Sysco Co. will post 1.83 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 23rd. Investors of record on Thursday, April 1st were given a dividend of $0.45 per share. The ex-dividend date was Wednesday, March 31st. This represents a $1.80 dividend on an annualized basis and a yield of 2.14%. Sysco’s payout ratio is presently 89.55%.

About Sysco

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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