L. Roy Papp & Associates LLP Has $1.95 Million Stake in Sysco Co. (NYSE:SYY)

L. Roy Papp & Associates LLP raised its stake in shares of Sysco Co. (NYSE:SYY) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,935 shares of the company’s stock after buying an additional 940 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in Sysco were worth $1,946,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SYY. TruNorth Capital Management LLC acquired a new position in Sysco during the second quarter valued at approximately $25,000. Armstrong Advisory Group Inc. boosted its position in shares of Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares in the last quarter. Fairscale Capital LLC acquired a new position in shares of Sysco in the 2nd quarter valued at $38,000. LRI Investments LLC acquired a new position in shares of Sysco in the 1st quarter valued at $45,000. Finally, Livelsberger Financial Advisory acquired a new stake in Sysco during the 3rd quarter worth $47,000. 83.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Jefferies Financial Group boosted their target price on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Morgan Stanley reduced their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Bank of America lowered their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Sysco presently has an average rating of “Moderate Buy” and an average target price of $86.08.

Sysco Stock Performance

Shares of SYY traded down $0.46 during mid-day trading on Friday, reaching $73.92. The company’s stock had a trading volume of 2,512,573 shares, compared to its average volume of 3,147,916. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The stock has a market cap of $36.31 billion, a P/E ratio of 19.00, a PEG ratio of 1.95 and a beta of 1.20. Sysco Co. has a 1-year low of $64.28 and a 1-year high of $82.89. The business has a 50-day simple moving average of $76.42 and a two-hundred day simple moving average of $74.78.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping 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 net margin of 2.48% and a return on equity of 102.09%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.34 earnings per share. As a group, equities research analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were issued a $0.51 dividend. 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 is currently 52.44%.

About Sysco

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.