Elo Mutual Pension Insurance Co Has $3.02 Million Position in Sysco Co. (NYSE:SYY)

Elo Mutual Pension Insurance Co lessened its holdings in shares of Sysco Co. (NYSE:SYY) by 8.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 42,287 shares of the company’s stock after selling 3,798 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Sysco were worth $3,019,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC acquired a new position in shares of Sysco during the second quarter worth approximately $25,000. Burkett Financial Services LLC bought a new position in Sysco during the fourth quarter worth $30,000. OFI Invest Asset Management acquired a new position in Sysco during the 1st quarter valued at $31,000. Fairman Group LLC bought a new stake in Sysco in the 4th quarter valued at $39,000. Finally, Livelsberger Financial Advisory acquired a new stake in Sysco in the 4th quarter worth $44,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Down 0.5 %

SYY opened at $74.14 on Friday. The firm has a market cap of $36.44 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 2.01 and a beta of 1.20. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The firm’s 50-day simple moving average is $75.81 and its 200-day simple moving average is $75.60. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings data 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. The firm had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 earnings per share. Equities research analysts anticipate that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. upped 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 Monday. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Truist Financial reduced their target price on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Finally, Bank of America lowered their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. 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’s stock. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.55.

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.