Penobscot Investment Management Company Inc. reduced its holdings in Sysco Co. (NYSE:SYY – Free Report) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 13,476 shares of the company’s stock after selling 334 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Sysco were worth $1,000,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. MRP Capital Investments LLC bought a new position in Sysco during the 1st quarter worth $31,000. Sunbelt Securities Inc. bought a new position in shares of Sysco during the first quarter worth about $32,000. MayTech Global Investments LLC acquired a new position in shares of Sysco in the fourth quarter worth approximately $38,000. Barrett & Company Inc. bought a new stake in Sysco in the first quarter valued at approximately $41,000. Finally, Quarry LP raised its holdings in Sysco by 58.2% during the 1st quarter. Quarry LP now owns 541 shares of the company’s stock worth $42,000 after purchasing an additional 199 shares during the last quarter. Institutional investors own 80.60% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on SYY shares. Morgan Stanley increased their price objective on shares of Sysco from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 1st. StockNews.com initiated coverage on Sysco in a research note on Thursday, October 5th. They issued a “strong-buy” rating on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Sysco in a research note on Thursday, October 19th. They set a “buy” rating and a $75.00 target price for the company. Truist Financial cut their price target on Sysco from $88.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, August 2nd. Finally, Barclays lowered their price objective on shares of Sysco from $86.00 to $77.00 and set an “overweight” rating for the company in a research note on Monday, October 23rd. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.30.
Sysco Trading Up 2.2 %
NYSE:SYY opened at $70.50 on Thursday. The company has a debt-to-equity ratio of 5.04, a current ratio of 1.29 and a quick ratio of 0.74. Sysco Co. has a one year low of $62.24 and a one year high of $87.21. The company has a market cap of $35.56 billion, a PE ratio of 19.86, a PEG ratio of 1.36 and a beta of 1.13. The firm has a 50-day moving average of $66.74 and a 200-day moving average of $70.79.
Sysco (NYSE:SYY – Get Free Report) last released its quarterly earnings results on Tuesday, October 31st. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.05. Sysco had a return on equity of 117.17% and a net margin of 2.35%. The business had revenue of $19.62 billion during the quarter, compared to the consensus estimate of $19.73 billion. During the same quarter in the previous year, the business earned $0.97 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts expect that Sysco Co. will post 4.32 EPS for the current fiscal year.
Sysco Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, October 6th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.84%. The ex-dividend date was Thursday, October 5th. Sysco’s dividend payout ratio (DPR) is presently 56.34%.
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.
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