Modera Wealth Management LLC Purchases 11,342 Shares of Sysco Co. (NYSE:SYY)

Modera Wealth Management LLC raised its position in Sysco Co. (NYSE:SYY) by 13.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,679 shares of the company’s stock after buying an additional 11,342 shares during the quarter. Modera Wealth Management LLC’s holdings in Sysco were worth $7,703,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Covenant Partners LLC purchased a new stake in Sysco during the third quarter valued at about $237,000. Benedict Financial Advisors Inc. raised its position in shares of Sysco by 0.5% in the third quarter. Benedict Financial Advisors Inc. now owns 55,043 shares of the company’s stock valued at $4,297,000 after purchasing an additional 263 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Sysco by 1.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 162,159 shares of the company’s stock valued at $12,658,000 after buying an additional 2,509 shares in the last quarter. Arkadios Wealth Advisors boosted its holdings in Sysco by 49.3% in the 3rd quarter. Arkadios Wealth Advisors now owns 5,210 shares of the company’s stock worth $407,000 after buying an additional 1,721 shares during the period. Finally, NorthCrest Asset Manangement LLC purchased a new position in Sysco in the 3rd quarter valued at approximately $220,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 0.6 %

Shares of SYY stock opened at $73.92 on Friday. The business has a 50-day moving average price of $76.42 and a two-hundred day moving average price of $74.78. Sysco Co. has a 12-month low of $64.28 and a 12-month high of $82.89. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The firm has a market cap of $36.31 billion, a P/E ratio of 19.00, a price-to-earnings-growth ratio of 1.95 and a beta of 1.20.

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

Sysco Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Bank of America dropped their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Jefferies Financial Group lifted their target price on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Barclays increased their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average price target of $86.08.

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.