Taylor Frigon Capital Management LLC Purchases Shares of 20,354 Sysco Co. (NYSE:SYY)

by · The Cerbat Gem

Taylor Frigon Capital Management LLC acquired a new stake in Sysco Co. (NYSE:SYY – Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 20,354 shares of the company’s stock, valued at approximately $1,589,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Riverwater Partners LLC increased its position in Sysco by 14.8% during the third quarter. Riverwater Partners LLC now owns 6,592 shares of the company’s stock worth $510,000 after buying an additional 852 shares during the last quarter. Courier Capital LLC bought a new stake in Sysco in the third quarter valued at approximately $206,000. Greenleaf Trust raised its stake in Sysco by 6.9% in the third quarter. Greenleaf Trust now owns 17,426 shares of the company’s stock valued at $1,360,000 after buying an additional 1,127 shares during the period. Commerzbank Aktiengesellschaft FI bought a new stake in Sysco in the third quarter valued at approximately $237,000. Finally, Global X Japan Co. Ltd. raised its stake in Sysco by 7.5% in the third quarter. Global X Japan Co. Ltd. now owns 5,926 shares of the company’s stock valued at $463,000 after buying an additional 413 shares during the period. 83.41% of the stock is owned by institutional investors.

Sysco Price Performance

Shares of SYY traded down $0.39 during mid-day trading on Thursday, reaching $74.24. The company had a trading volume of 1,988,953 shares, compared to its average volume of 3,143,596. The company’s 50 day simple moving average is $76.51 and its 200 day simple moving average is $74.82. Sysco Co. has a 1-year low of $64.28 and a 1-year high of $82.89. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The company has a market capitalization of $36.47 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 1.95 and a beta of 1.20.

Sysco (NYSE:SYY – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating 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 company had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. During the same period last year, the company posted $1.34 EPS. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. Analysts expect that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.75%. Sysco’s dividend payout ratio is presently 52.44%.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note 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 research note on Thursday, July 18th. Morgan Stanley decreased their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Jefferies Financial Group upped their target price on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, Barclays upped their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average price target of $86.08.

View Our Latest Stock Analysis on SYY

Sysco Company Profile

(Free Report)

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.

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