Recently, several hedge funds and institutional investors adjusted their shares in Sysco. TruNorth Capital Management bought in for $25,000, OFI Invest Asset Management for $31,000, Fairscale Capital for $38,000, Fairman Group for $39,000, and LRI Investments for $45,000. Institutional investors now hold 83.41% of Sysco’s stock.
Analyst Insights
Sysco (SYY) has received multiple analyst reviews. Barclays increased their price target from $85.00 to $88.00 with an overweight rating. Jefferies raised it from $91.00 to $92.00 with a buy rating. JPMorgan also boosted their target to $88.00. Truist lowered their target to $85.00, maintaining a buy, while Bank of America reduced theirs to $87.00, also assigning a buy rating. Overall, Sysco has an average rating of Moderate Buy with a target of $86.08.
Stock Performance
Sysco shares opened at $77.38. It has a market cap of $38.03 billion, a P/E ratio of 18.87, and trading between a 52-week low of $62.24 and a high of $82.89. In the last quarter, Sysco reported earnings of $1.39 per share, slightly above estimates, with revenues of $20.56 billion. For the fiscal year, analysts predict earnings of $4.60 per share.
Dividend Announcement
Sysco announced a quarterly dividend of $0.51, payable on October 25th to shareholders recorded by October 4th. The annualized dividend totals $2.04, with a yield of 2.64% and a payout ratio of 49.76%.
Company Overview
Sysco Corporation distributes food and related products to the foodservice industry across the U.S., Canada, the U.K., and more. Their operations include U.S. Foodservice, International Foodservice, and SYGMA among others.
More Information
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Curious about hedge fund holdings in Sysco? Check out HoldingsChannel.com for the latest filings.
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