Amalgamated Bank Sells 4,492 Shares of Sysco Co. (NYSE:SYY)

Amalgamated Bank trimmed its stake in Sysco Co. (NYSE:SYY) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,566 shares of the company’s stock after selling 4,492 shares during the quarter. Amalgamated Bank’s holdings in Sysco were worth $7,465,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of SYY. Capital World Investors bought a new position in Sysco in the fourth quarter valued at approximately $683,599,000. Capital Research Global Investors grew its stake in Sysco by 112.8% in the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after purchasing an additional 3,504,740 shares in the last quarter. Swedbank AB bought a new position in Sysco in the first quarter valued at approximately $178,824,000. The Manufacturers Life Insurance Company grew its stake in Sysco by 132.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock valued at $267,177,000 after purchasing an additional 2,084,501 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in Sysco by 49.8% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after purchasing an additional 1,997,895 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Performance

NYSE:SYY opened at $74.14 on Friday. The stock has a market cap of $36.44 billion, a P/E ratio of 18.08, a PEG ratio of 2.01 and a beta of 1.20. The stock has a 50 day simple moving average of $75.81 and a 200 day simple moving average of $75.60. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. During the same period last year, the firm posted $1.34 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.75%. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SYY. Morgan Stanley cut their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Bank of America cut their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Truist Financial cut their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. Finally, Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Tuesday, May 28th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.55.

About Sysco

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.