Alerus Financial NA Sells 319 Shares of Sysco Co. (NYSE:SYY)

Posted by on Jun 13th, 2023

Alerus Financial NA reduced its position in shares of Sysco Co. (NYSE:SYY – Get Rating) by 9.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,922 shares of the company’s stock after selling 319 shares during the quarter. Alerus Financial NA’s holdings in Sysco were worth $223,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYY. Standard Family Office LLC bought a new stake in Sysco during the 3rd quarter valued at $25,000. U.S. Capital Wealth Advisors LLC bought a new stake in Sysco during the 4th quarter valued at $27,000. General Partner Inc. bought a new position in Sysco in the 4th quarter worth $31,000. MinichMacGregor Wealth Management LLC bought a new position in Sysco in the 4th quarter worth $31,000. Finally, American National Bank raised its holdings in Sysco by 45.3% in the 4th quarter. American National Bank now owns 593 shares of the company’s stock worth $45,000 after purchasing an additional 185 shares in the last quarter. 81.18% of the stock is currently owned by institutional investors.

Sysco Stock Performance

Shares of NYSE SYY opened at $72.33 on Tuesday. The firm’s 50-day moving average price is $74.11 and its 200-day moving average price is $76.71. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 6.51. The company has a market cap of $36.65 billion, a PE ratio of 23.95, a PEG ratio of 1.41 and a beta of 1.11. Sysco Co. has a 52-week low of $69.22 and a 52-week high of $88.84.

Sysco (NYSE:SYY – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The company had revenue of $18.88 billion for the quarter, compared to analysts’ expectations of $18.56 billion. Sysco had a net margin of 2.05% and a return on equity of 141.53%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 EPS. As a group, analysts anticipate that Sysco Co. will post 4 EPS for the current year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, July 7th will be issued a $0.50 dividend. This is an increase from Sysco’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.77%. Sysco’s dividend payout ratio (DPR) is presently 64.90%.

Analysts Set New Price Targets

SYY has been the subject of several research reports. Barclays decreased their price objective on shares of Sysco from $87.00 to $85.00 in a report on Wednesday, May 3rd. Morgan Stanley decreased their price objective on shares of Sysco from $86.00 to $83.00 and set an “equal weight” rating for the company in a report on Monday, April 17th. 51job restated a “maintains” rating on shares of Sysco in a report on Wednesday, May 3rd. Stephens reiterated an “overweight” rating and issued a $90.00 price target on shares of Sysco in a research note on Tuesday, March 28th. Finally, Credit Suisse Group decreased their price target on shares of Sysco from $94.00 to $88.00 in a research note on Wednesday, May 3rd. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and a consensus target price of $87.27.

Sysco 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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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