Sysco Co. (NYSE:SYY) Shares Bought by Waycross Partners LLC

Waycross Partners LLC boosted its holdings in Sysco Co. (NYSE:SYY) by 12.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 211,643 shares of the company’s stock after acquiring an additional 23,126 shares during the period. Sysco accounts for about 2.3% of Waycross Partners LLC’s investment portfolio, making the stock its 16th largest position. Waycross Partners LLC’s holdings in Sysco were worth $15,109,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SYY. ORG Partners LLC grew its position in shares of Sysco by 3,159.0% in the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after purchasing an additional 6,855 shares during the last quarter. Bridgefront Capital LLC purchased a new stake in shares of Sysco in the fourth quarter valued at $841,000. Nebula Research & Development LLC acquired a new stake in shares of Sysco during the fourth quarter valued at $916,000. Artisan Partners Limited Partnership increased its position in Sysco by 11.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 597,216 shares of the company’s stock worth $43,674,000 after purchasing an additional 62,556 shares in the last quarter. Finally, Mizuho Markets Americas LLC lifted its holdings in Sysco by 102.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock valued at $11,355,000 after purchasing an additional 70,660 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Price Performance

SYY stock opened at $76.52 on Monday. The stock’s 50 day moving average is $75.34 and its two-hundred day moving average is $75.66. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The company has a market capitalization of $38.11 billion, a PE ratio of 18.66, a P/E/G ratio of 2.01 and a beta of 1.20. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. Analysts predict that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.67%. Sysco’s payout ratio is 49.76%.

Wall Street Analysts Forecast Growth

SYY has been the subject of several recent analyst reports. Bank of America lowered their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a report on Tuesday, May 28th. BMO Capital Markets cut their price target on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 23rd. Truist Financial lowered their price objective 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. Finally, StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.27.

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.