Boothbay Fund Management LLC Acquires Shares of 4,129 Sysco Co. (NYSE:SYY)

Posted by Defense World Staff on Mar 4th, 2023

Boothbay Fund Management LLC acquired a new position in Sysco Co. (NYSE:SYY – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,129 shares of the company’s stock, valued at approximately $292,000.

A number of other institutional investors have also recently bought and sold shares of SYY. ICA Group Wealth Management LLC raised its position in shares of Sysco by 2.5% in the 3rd quarter. ICA Group Wealth Management LLC now owns 4,944 shares of the company’s stock valued at $350,000 after buying an additional 121 shares in the last quarter. Brinker Capital Investments LLC raised its position in Sysco by 3.2% in the first quarter. Brinker Capital Investments LLC now owns 3,851 shares of the company’s stock valued at $314,000 after purchasing an additional 121 shares during the last quarter. EP Wealth Advisors LLC raised its position in Sysco by 1.9% in the second quarter. EP Wealth Advisors LLC now owns 6,658 shares of the company’s stock valued at $564,000 after purchasing an additional 123 shares during the last quarter. CoreFirst Bank & Trust raised its position in Sysco by 15.5% in the second quarter. CoreFirst Bank & Trust now owns 930 shares of the company’s stock valued at $79,000 after purchasing an additional 125 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC raised its position in Sysco by 0.3% in the third quarter. RPg Family Wealth Advisory LLC now owns 38,429 shares of the company’s stock valued at $3,160,000 after purchasing an additional 127 shares during the last quarter. Institutional investors own 81.18% of the company’s stock.

Sysco Trading Up 0.9 %

Shares of Sysco stock opened at $76.26 on Friday. The company has a market capitalization of $38.71 billion, a P/E ratio of 27.53, a P/E/G ratio of 2.06 and a beta of 1.10. The company has a debt-to-equity ratio of 7.20, a quick ratio of 0.68 and a current ratio of 1.24. The company has a fifty day moving average of $77.59 and a 200 day moving average of $79.82. Sysco Co. has a fifty-two week low of $70.61 and a fifty-two week high of $91.53.

Sysco (NYSE:SYY – Get Rating) last released its quarterly earnings data on Tuesday, January 31st. The company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.04). Sysco had a net margin of 1.93% and a return on equity of 140.94%. The company had revenue of $18.59 billion for the quarter, compared to the consensus estimate of $18.59 billion. During the same period last year, the company earned $0.57 EPS. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, sell-side analysts anticipate that Sysco Co. will post 4.05 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Thursday, April 6th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.57%. The ex-dividend date is Wednesday, April 5th. Sysco’s payout ratio is 70.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company lowered their price objective on Sysco from $95.00 to $87.00 and set an “overweight” rating for the company in a research report on Wednesday, January 4th. BMO Capital Markets lowered their price objective on Sysco from $96.00 to $90.00 and set an “outperform” rating for the company in a research report on Wednesday, February 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on Sysco from $83.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, February 1st. Stephens reiterated an “overweight” rating and issued a $90.00 target price on shares of Sysco in a report on Friday, January 13th. Finally, Barclays lowered their target price on Sysco from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, February 1st. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.64.

Sysco Company Profile

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Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.