Banque Cantonale Vaudoise Reduces Stake in Sysco Co. (NYSE:SYY)

Banque Cantonale Vaudoise reduced its stake in shares of Sysco Co. (NYSE:SYY) by 34.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,429 shares of the company’s stock after selling 4,461 shares during the period. Banque Cantonale Vaudoise’s holdings in Sysco were worth $685,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new position in shares of Sysco in the third quarter worth about $178,000. Dark Forest Capital Management LP raised its stake in shares of Sysco by 10.3% during the third quarter. Dark Forest Capital Management LP now owns 8,910 shares of the company’s stock worth $589,000 after acquiring an additional 834 shares in the last quarter. LPL Financial LLC lifted its stake in Sysco by 9.2% in the third quarter. LPL Financial LLC now owns 421,496 shares of the company’s stock worth $27,840,000 after purchasing an additional 35,453 shares during the last quarter. Stifel Financial Corp boosted its position in Sysco by 0.5% during the third quarter. Stifel Financial Corp now owns 404,068 shares of the company’s stock valued at $26,689,000 after buying an additional 2,185 shares during the period. Finally, Personal CFO Solutions LLC grew its stake in shares of Sysco by 3.4% during the third quarter. Personal CFO Solutions LLC now owns 5,921 shares of the company’s stock valued at $391,000 after buying an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Morgan Stanley reduced their price target on Sysco from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 23rd. Truist Financial decreased their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Barclays dropped their price target on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. BMO Capital Markets cut their price target on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Finally, Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.10.

Sysco Price Performance

SYY stock opened at $73.35 on Friday. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The firm has a 50-day moving average of $74.22 and a 200 day moving average of $76.43. The company has a market cap of $36.53 billion, a P/E ratio of 17.89, a PEG ratio of 2.09 and a beta of 1.17.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The company had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. On average, sell-side analysts forecast that Sysco Co. will post 4.3 EPS for the current year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 annualized dividend and a yield of 2.78%. This is a positive change from Sysco’s previous quarterly dividend of $0.50. Sysco’s payout ratio is presently 48.78%.

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.