Sysco Co. (NYSE:SYY) Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. increased its position in shares of Sysco Co. (NYSE:SYY) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,536 shares of the company’s stock after purchasing an additional 1,446 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Sysco were worth $5,077,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Toth Financial Advisory Corp increased its holdings in shares of Sysco by 5.3% in the 1st quarter. Toth Financial Advisory Corp now owns 129,731 shares of the company’s stock valued at $10,532,000 after acquiring an additional 6,584 shares during the last quarter. Independence Bank of Kentucky increased its stake in Sysco by 12.9% in the first quarter. Independence Bank of Kentucky now owns 3,598 shares of the company’s stock valued at $292,000 after purchasing an additional 410 shares during the last quarter. Cambridge Advisors Inc. acquired a new stake in Sysco during the first quarter worth approximately $218,000. Capital Asset Advisory Services LLC purchased a new stake in shares of Sysco during the 1st quarter worth approximately $233,000. Finally, Courier Capital LLC acquired a new position in shares of Sysco in the 1st quarter valued at $214,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of SYY stock traded down $1.08 during mid-day trading on Friday, hitting $71.39. The stock had a trading volume of 15,189,200 shares, compared to its average volume of 3,513,296. The firm has a market cap of $35.55 billion, a PE ratio of 17.41, a PEG ratio of 2.08 and a beta of 1.17. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The company’s 50-day simple moving average is $73.94 and its 200-day simple moving average is $76.38. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The company had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same quarter in the previous year, the company earned $0.90 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts anticipate that Sysco Co. will post 4.29 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a yield of 2.86%. This is an increase from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio (DPR) is 49.76%.

Analysts Set New Price Targets

SYY has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Piper Sandler decreased their target price on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. BMO Capital Markets cut their price target on Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. UBS Group decreased their price objective on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Barclays cut their target price on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.90.

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.