Sysco Co. (NYSE:SYY) Shares Sold by UMB Bank n.a.

Posted by on Jun 22nd, 2023

UMB Bank n.a. reduced its stake in shares of Sysco Co. (NYSE:SYY – Get Rating) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,755 shares of the company’s stock after selling 614 shares during the period. UMB Bank n.a.’s holdings in Sysco were worth $1,371,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SYY. Vontobel Holding Ltd. lifted its holdings in Sysco by 166.0% in the first quarter. Vontobel Holding Ltd. now owns 16,127 shares of the company’s stock valued at $1,338,000 after acquiring an additional 10,065 shares during the last quarter. Sei Investments Co. lifted its holdings in Sysco by 6.9% in the first quarter. Sei Investments Co. now owns 258,746 shares of the company’s stock valued at $21,068,000 after acquiring an additional 16,772 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Sysco by 12.9% in the first quarter. Cetera Investment Advisers now owns 22,139 shares of the company’s stock valued at $1,808,000 after acquiring an additional 2,522 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in Sysco by 1.0% in the first quarter. Baird Financial Group Inc. now owns 659,712 shares of the company’s stock valued at $53,865,000 after acquiring an additional 6,711 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Sysco by 54.8% in the first quarter. Parkside Financial Bank & Trust now owns 833 shares of the company’s stock valued at $68,000 after acquiring an additional 295 shares during the last quarter. 84.79% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Performance

NYSE:SYY opened at $72.60 on Thursday. The firm has a market capitalization of $36.78 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 1.42 and a beta of 1.11. The business’s fifty day moving average price is $73.52 and its 200 day moving average price is $76.14. The company has a debt-to-equity ratio of 6.51, a current ratio of 1.21 and a quick ratio of 0.70. Sysco Co. has a 12 month low of $69.22 and a 12 month high of $88.84.

Sysco (NYSE:SYY – Get Rating) last posted its earnings results on Tuesday, May 2nd. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The business had revenue of $18.88 billion during 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 quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $0.71 EPS. On average, sell-side analysts anticipate that Sysco Co. will post 4 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently announced 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 represents a $2.00 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Thursday, July 6th. This is a positive change from Sysco’s previous quarterly dividend of $0.49. Sysco’s dividend payout ratio is 64.90%.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of recent analyst reports. Bank of America assumed coverage on Sysco in a report on Thursday, March 9th. They issued a “buy” rating and a $90.00 price objective on the stock. Stephens reissued an “overweight” rating and issued a $90.00 target price on shares of Sysco in a research report on Tuesday, March 28th. 51job reissued a “maintains” rating on shares of Sysco in a research report on Wednesday, May 3rd. Credit Suisse Group cut their target price on Sysco from $94.00 to $88.00 in a research report on Wednesday, May 3rd. Finally, StockNews.com initiated coverage on Sysco in a research report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating, eight 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 an average rating of “Moderate Buy” and a consensus target price of $86.91.

Sysco Company Profile

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Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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