Sysco Co. (NYSE:SYY) Shares Sold by Ameritas Advisory Services LLC

Posted by Defense World Staff on Jul 25th, 2023

Ameritas Advisory Services LLC lessened its holdings in Sysco Co. (NYSE:SYY – Free Report) by 23.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,182 shares of the company’s stock after selling 667 shares during the period. Ameritas Advisory Services LLC’s holdings in Sysco were worth $167,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Parnassus Investments LLC increased its holdings in Sysco by 144.3% in the 4th quarter. Parnassus Investments LLC now owns 13,076,228 shares of the company’s stock worth $999,678,000 after buying an additional 7,723,075 shares during the period. Aristotle Capital Management LLC grew its stake in shares of Sysco by 422.4% during the 4th quarter. Aristotle Capital Management LLC now owns 11,444,739 shares of the company’s stock worth $874,950,000 after purchasing an additional 9,253,988 shares during the period. Geode Capital Management LLC grew its stake in shares of Sysco by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 8,747,941 shares of the company’s stock worth $667,349,000 after purchasing an additional 166,867 shares during the period. Moneta Group Investment Advisors LLC grew its stake in shares of Sysco by 70,686.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,967,508 shares of the company’s stock worth $532,666,000 after purchasing an additional 6,957,665 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Sysco by 4.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,819,065 shares of the company’s stock worth $521,318,000 after purchasing an additional 310,274 shares during the period. Institutional investors and hedge funds own 84.79% of the company’s stock.

Sysco Trading Up 0.8 %

Shares of SYY stock opened at $75.81 on Tuesday. The stock’s fifty day moving average is $72.96 and its two-hundred day moving average is $75.23. The company has a debt-to-equity ratio of 6.51, a quick ratio of 0.70 and a current ratio of 1.21. The firm has a market capitalization of $38.41 billion, a P/E ratio of 25.10, a PEG ratio of 1.30 and a beta of 1.11. Sysco Co. has a fifty-two week low of $69.22 and a fifty-two week high of $87.95.

Sysco (NYSE:SYY – Get Free Report) last posted its quarterly 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). Sysco had a return on equity of 141.53% and a net margin of 2.05%. The company had revenue of $18.88 billion for the quarter, compared to analysts’ expectations of $18.56 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. Research analysts expect that Sysco Co. will post 4 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 7th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.64%. 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 payout ratio is currently 66.23%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SYY. Barclays dropped their price objective on shares of Sysco from $87.00 to $85.00 in a research note on Wednesday, May 3rd. TheStreet raised shares of Sysco from a “c+” rating to a “b” rating in a research note on Tuesday, May 2nd. Credit Suisse Group dropped their price target on shares of Sysco from $94.00 to $88.00 in a research note on Wednesday, May 3rd. 51job reissued a “maintains” rating on shares of Sysco in a research note on Wednesday, May 3rd. Finally, Stephens reissued an “overweight” rating and issued a $90.00 price target on shares of Sysco in a research note on Tuesday, March 28th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.91.

Sysco Profile

(Free Report)

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.