Carret Asset Management LLC Purchases 1,350 Shares of Sysco Co. (NYSE:SYY)

Carret Asset Management LLC grew its position in Sysco Co. (NYSE:SYY) by 7.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,556 shares of the company’s stock after acquiring an additional 1,350 shares during the period. Carret Asset Management LLC’s holdings in Sysco were worth $1,605,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. ORG Partners LLC raised its position in Sysco by 3,159.0% in the 2nd 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. Mizuho Markets Americas LLC raised its holdings in shares of Sysco by 102.1% in the first quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock valued at $11,355,000 after buying an additional 70,660 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in Sysco by 11.6% during the 2nd quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock worth $12,577,000 after buying an additional 18,296 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in Sysco during the 1st quarter worth about $1,677,000. Finally, Shell Asset Management Co. increased its position in Sysco by 205.0% in the 1st quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock valued at $1,161,000 after acquiring an additional 9,615 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SYY shares. Jefferies Financial Group upped their target price on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Morgan Stanley lowered their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Barclays lifted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.08.

Sysco Trading Down 0.6 %

Shares of NYSE SYY opened at $73.92 on Friday. 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 Co. has a twelve month low of $64.28 and a twelve month high of $82.89. The company’s fifty day moving average is $76.42 and its 200-day moving average is $74.78. The stock has a market cap of $36.31 billion, a price-to-earnings ratio of 19.00, a P/E/G ratio of 1.95 and a beta of 1.20.

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

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.76%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Sysco 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.