Valeo Financial Advisors LLC decreased its position in Sysco Co. (NYSE:SYY – Free Report) by 17.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,708 shares of the company’s stock after selling 1,021 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Sysco were worth $349,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of SYY. Aristotle Capital Management LLC boosted 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 buying an additional 9,253,988 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in Sysco by 70,686.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,967,508 shares of the company’s stock valued at $532,666,000 after purchasing an additional 6,957,665 shares during the last quarter. Norges Bank bought a new position in Sysco in the fourth quarter valued at approximately $397,373,000. Nordea Investment Management AB increased its position in shares of Sysco by 5,475.9% during the 2nd quarter. Nordea Investment Management AB now owns 1,780,708 shares of the company’s stock worth $130,526,000 after purchasing an additional 1,748,772 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Sysco by 34.8% in the 4th quarter. Morgan Stanley now owns 6,459,895 shares of the company’s stock valued at $493,859,000 after buying an additional 1,666,008 shares during the last quarter. 80.60% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have issued reports on SYY. Barclays upped their price target on shares of Sysco from $85.00 to $86.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd. Truist Financial reduced their price target on Sysco from $88.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, August 2nd. Stephens reissued an “overweight” rating and issued a $90.00 price objective on shares of Sysco in a research report on Tuesday, August 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $79.00 target price on shares of Sysco in a report on Wednesday, August 2nd. Finally, StockNews.com started coverage on shares of Sysco in a report on Thursday, August 17th. They issued a “strong-buy” rating on the stock. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus price target of $86.91.
Sysco Trading Down 1.3 %
Shares of Sysco stock opened at $68.63 on Monday. The firm’s 50 day moving average is $71.96 and its 200 day moving average is $73.39. The firm has a market capitalization of $34.65 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 1.28 and a beta of 1.11. Sysco Co. has a 1 year low of $68.18 and a 1 year high of $87.41. The company has a current ratio of 1.24, a quick ratio of 0.72 and a debt-to-equity ratio of 5.15.
Sysco (NYSE:SYY – Get Free Report) last posted its earnings results on Tuesday, August 1st. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. Sysco had a net margin of 2.32% and a return on equity of 133.27%. The firm had revenue of $19.73 billion for the quarter, compared to analysts’ expectations of $19.95 billion. During the same quarter in the previous year, the firm posted $1.15 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. Equities research analysts forecast that Sysco Co. will post 4.29 earnings per share for the current fiscal year.
Sysco Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be given a $0.50 dividend. The ex-dividend date is Thursday, October 5th. This represents a $2.00 annualized dividend and a yield of 2.91%. Sysco’s dividend payout ratio is presently 57.64%.
Sysco Company Profile
Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products 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.
Featured Articles
- Five stocks we like better than Sysco
- 3 Best Fintech Stocks for a Portfolio Boost
- 3 Reasons This Sleeping Giant Is About To Wake Up
- How to Invest in Energy
- MarketBeat Week in Review – 9/18 – 9/22
- How to Use the MarketBeat Dividend Calculator
- 52-week Low Names To Tip The Upside Scale In Your Favor
Receive News & Ratings for Sysco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco and related companies with MarketBeat.com's FREE daily email newsletter.
