CHICAGO TRUST Co NA Decreases Stake in Sysco Co. (NYSE:SYY)

Posted by on Mar 22nd, 2023

CHICAGO TRUST Co NA lowered its stake in Sysco Co. (NYSE:SYY – Get Rating) by 10.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,862 shares of the company’s stock after selling 333 shares during the period. CHICAGO TRUST Co NA’s holdings in Sysco were worth $218,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYY. Standard Family Office LLC purchased a new position in shares of Sysco in the third quarter worth $25,000. Karp Capital Management Corp purchased a new position in shares of Sysco in the third quarter worth $27,000. American National Bank raised its holdings in shares of Sysco by 397.6% in the third quarter. American National Bank now owns 408 shares of the company’s stock worth $29,000 after buying an additional 326 shares during the last quarter. General Partner Inc. purchased a new position in shares of Sysco in the fourth quarter worth $31,000. Finally, MinichMacGregor Wealth Management LLC purchased a new position in shares of Sysco in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 81.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Argus cut shares of Sysco from a “buy” rating to a “hold” rating in a report on Thursday, February 2nd. Morgan Stanley cut their price objective on shares of Sysco from $87.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 1st. Truist Financial cut their price objective on shares of Sysco from $92.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, February 1st. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 10th. Finally, 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 research note on Wednesday, January 4th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.42.

Sysco Stock Up 1.5 %

SYY stock opened at $75.20 on Wednesday. The firm has a market cap of $38.17 billion, a PE ratio of 27.15, a P/E/G ratio of 1.41 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 firm’s fifty day moving average is $76.89 and its 200 day moving average is $78.93. Sysco Co. has a one year low of $70.61 and a one year high of $91.53.

Sysco (NYSE:SYY – Get Rating) last released its quarterly earnings results 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 firm had revenue of $18.59 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same quarter in the prior year, the business posted $0.57 EPS. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, research analysts forecast that Sysco Co. will post 4.04 EPS for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Thursday, April 6th will be given a $0.49 dividend. The ex-dividend date is Wednesday, April 5th. This represents a $1.96 annualized dividend and a dividend yield of 2.61%. Sysco’s dividend payout ratio (DPR) is 70.76%.

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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