Blair William & Co. IL Trims Stock Holdings in Sysco Co. (NYSE:SYY)

Blair William & Co. IL trimmed its holdings in Sysco Co. (NYSE:SYY) by 6.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 261,876 shares of the company’s stock after selling 16,847 shares during the period. Blair William & Co. IL owned approximately 0.05% of Sysco worth $18,695,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Chicago Partners Investment Group LLC grew its holdings in shares of Sysco by 1.8% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock worth $536,000 after purchasing an additional 124 shares in the last quarter. Bell Investment Advisors Inc lifted its position in Sysco by 8.2% during the fourth quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock valued at $126,000 after purchasing an additional 131 shares during the last quarter. Beacon Investment Advisors LLC grew its stake in Sysco by 0.5% in the 4th quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock worth $1,805,000 after buying an additional 133 shares in the last quarter. Plimoth Trust Co. LLC increased its holdings in shares of Sysco by 0.6% in the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after buying an additional 139 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its position in shares of Sysco by 1.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock valued at $679,000 after buying an additional 141 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SYY shares. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Tuesday, May 28th. Barclays raised their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. BMO Capital Markets lowered their price objective on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Truist Financial lowered their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and an average price target of $85.55.

Sysco Price Performance

Shares of Sysco stock opened at $74.14 on Friday. The firm has a market cap of $36.44 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The company’s fifty day simple moving average is $75.81 and its two-hundred day simple moving average is $75.60.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.34 EPS. As a group, equities analysts expect that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

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

Sysco 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.