Brookstone Capital Management Sells 367 Shares of Sysco Co. (NYSE:SYY)

Brookstone Capital Management lowered its holdings in shares of Sysco Co. (NYSE:SYYGet Rating) by 2.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 14,465 shares of the company’s stock after selling 367 shares during the quarter. Brookstone Capital Management’s holdings in Sysco were worth $1,246,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group bought a new position in Sysco during the first quarter valued at $29,000. DeDora Capital Inc. bought a new stake in shares of Sysco in the 1st quarter worth about $31,000. Column Capital Advisors LLC lifted its holdings in shares of Sysco by 4,900.0% in the 1st quarter. Column Capital Advisors LLC now owns 400 shares of the company’s stock worth $33,000 after acquiring an additional 392 shares during the last quarter. Mascoma Wealth Management LLC lifted its holdings in shares of Sysco by 80.0% in the 1st quarter. Mascoma Wealth Management LLC now owns 414 shares of the company’s stock worth $34,000 after acquiring an additional 184 shares during the last quarter. Finally, MayTech Global Investments LLC bought a new stake in shares of Sysco in the 4th quarter worth about $39,000. Institutional investors own 82.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SYY. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 14th. Barclays reduced their price target on shares of Sysco to $100.00 in a research note on Monday, August 15th. Truist Financial reduced their price target on shares of Sysco from $98.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. JPMorgan Chase & Co. raised shares of Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 target price on the stock in a research report on Thursday, May 26th. Finally, Credit Suisse Group cut their target price on shares of Sysco from $107.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 10th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.13.

Sysco Price Performance

NYSE:SYY opened at $78.45 on Thursday. The company has a debt-to-equity ratio of 7.28, a current ratio of 1.20 and a quick ratio of 0.69. The firm has a market cap of $39.70 billion, a price-to-earnings ratio of 29.72, a price-to-earnings-growth ratio of 2.11 and a beta of 1.01. The company has a 50 day moving average price of $84.17 and a 200-day moving average price of $83.51. Sysco Co. has a 1-year low of $68.05 and a 1-year high of $91.53.

Sysco (NYSE:SYYGet Rating) last posted its earnings results on Tuesday, August 9th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.03. The firm had revenue of $18.96 billion during the quarter, compared to analyst estimates of $18.29 billion. Sysco had a net margin of 1.98% and a return on equity of 119.55%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 EPS. Equities research analysts forecast that Sysco Co. will post 4.2 EPS for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Thursday, October 6th. Sysco’s dividend payout ratio (DPR) is 74.24%.

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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