Sysco Co. (NYSE:SYY) Shares Purchased by Moody National Bank Trust Division

Posted by on Mar 20th, 2023

Moody National Bank Trust Division boosted its holdings in Sysco Co. (NYSE:SYY – Get Rating) by 10.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,917 shares of the company’s stock after acquiring an additional 545 shares during the period. Moody National Bank Trust Division’s holdings in Sysco were worth $452,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC acquired a new stake in Sysco in the 2nd quarter valued at about $81,000. Tower Research Capital LLC TRC boosted its stake in shares of Sysco by 1.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 38,509 shares of the company’s stock worth $2,723,000 after purchasing an additional 725 shares during the last quarter. Parsons Capital Management Inc. RI boosted its stake in shares of Sysco by 1.5% during the 3rd quarter. Parsons Capital Management Inc. RI now owns 25,195 shares of the company’s stock worth $1,782,000 after purchasing an additional 382 shares during the last quarter. King Luther Capital Management Corp boosted its stake in shares of Sysco by 22.5% during the 2nd quarter. King Luther Capital Management Corp now owns 51,665 shares of the company’s stock worth $4,377,000 after purchasing an additional 9,474 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Sysco by 55.3% during the 3rd quarter. Hsbc Holdings PLC now owns 629,582 shares of the company’s stock worth $44,951,000 after purchasing an additional 224,253 shares during the last quarter. 81.18% of the stock is owned by institutional investors and hedge funds.

Sysco Trading Down 2.1 %

SYY opened at $72.94 on Monday. The firm has a market capitalization of $37.02 billion, a P/E ratio of 26.33, a P/E/G ratio of 1.41 and a beta of 1.10. The firm’s 50 day moving average is $77.09 and its 200-day moving average is $79.02. Sysco Co. has a 52-week low of $70.61 and a 52-week high of $91.53. The company has a quick ratio of 0.68, a current ratio of 1.24 and a debt-to-equity ratio of 7.20.

Sysco (NYSE:SYY – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.04). Sysco had a net margin of 1.93% and a return on equity of 140.94%. The firm had revenue of $18.59 billion for the quarter, compared to analysts’ expectations of $18.59 billion. During the same quarter in the prior year, the business earned $0.57 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Analysts expect that Sysco Co. will post 4.04 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Thursday, April 6th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Wednesday, April 5th. Sysco’s payout ratio is currently 70.76%.

Analyst Ratings Changes

Several brokerages have recently weighed in on SYY. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Friday, March 10th. Credit Suisse Group cut their price objective on shares of Sysco from $100.00 to $94.00 and set an “outperform” rating on the stock in a report on Wednesday, February 1st. Barclays cut their price objective on shares of Sysco from $92.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, February 1st. Wells Fargo & Company cut their price objective on shares of Sysco from $95.00 to $87.00 and set an “overweight” rating on the stock in a report on Wednesday, January 4th. Finally, Bank of America began coverage on shares of Sysco in a report on Thursday, March 9th. They set a “buy” rating and a $90.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.67.

About Sysco

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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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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