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

Advisory Services Network LLC trimmed its stake in shares of Sysco Co. (NYSE:SYYGet Rating) by 45.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 19,031 shares of the company’s stock after selling 15,597 shares during the quarter. Advisory Services Network LLC’s holdings in Sysco were worth $1,553,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Sysco by 0.9% during the first quarter. Vanguard Group Inc. now owns 45,402,613 shares of the company’s stock valued at $3,707,123,000 after acquiring an additional 409,441 shares during the last quarter. Wellington Management Group LLP lifted its stake in Sysco by 11.1% in the first quarter. Wellington Management Group LLP now owns 35,539,582 shares of the company’s stock worth $2,901,806,000 after acquiring an additional 3,536,646 shares during the last quarter. BlackRock Inc. lifted its position in shares of Sysco by 0.5% during the 1st quarter. BlackRock Inc. now owns 31,668,083 shares of the company’s stock worth $2,585,695,000 after buying an additional 148,215 shares during the last quarter. State Street Corp lifted its position in shares of Sysco by 2.0% during the 1st quarter. State Street Corp now owns 24,545,969 shares of the company’s stock worth $2,015,561,000 after buying an additional 477,454 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Sysco by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 7,854,811 shares of the company’s stock worth $615,028,000 after buying an additional 242,350 shares during the last quarter. 82.43% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Performance

Sysco stock opened at $78.19 on Monday. The company has a debt-to-equity ratio of 7.28, a quick ratio of 0.69 and a current ratio of 1.20. The stock’s 50 day simple moving average is $84.60 and its two-hundred day simple moving average is $83.64. Sysco Co. has a fifty-two week low of $68.05 and a fifty-two week high of $91.53. The stock has a market cap of $39.57 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 2.07 and a beta of 1.01.

Sysco (NYSE:SYYGet Rating) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. Sysco had a return on equity of 119.55% and a net margin of 1.98%. The firm had revenue of $18.96 billion during the quarter, compared to analyst estimates of $18.29 billion. During the same quarter last year, the business posted $0.71 earnings per share. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. As a group, analysts expect that Sysco Co. will post 4.2 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 7th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.51%. Sysco’s payout ratio is currently 74.24%.

Insiders Place Their Bets

In other Sysco news, CFO Aaron E. Alt acquired 1,000 shares of the stock in a transaction on Tuesday, June 21st. The shares were bought at an average cost of $80.09 per share, with a total value of $80,090.00. Following the transaction, the chief financial officer now owns 14,220 shares of the company’s stock, valued at approximately $1,138,879.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.31% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SYY shares. Barclays lowered their price objective on shares of Sysco to $100.00 in a research note on Monday, August 15th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 14th. Truist Financial decreased their price objective on Sysco from $98.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, August 10th. JPMorgan Chase & Co. raised Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 price target on the stock in a research report on Thursday, May 26th. Finally, Credit Suisse Group reduced their price objective on Sysco from $107.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 10th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.13.

Sysco 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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