SYSTM Wealth Solutions LLC Trims Stake in Sysco Co. (NYSE:SYY)

SYSTM Wealth Solutions LLC cut its position in shares of Sysco Co. (NYSE:SYY) by 95.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 435 shares of the company’s stock after selling 8,621 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Sysco were worth $31,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in SYY. Chicago Partners Investment Group LLC lifted its stake in Sysco by 1.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock worth $536,000 after acquiring an additional 124 shares during the period. Bell Investment Advisors Inc lifted its position in shares of Sysco by 8.2% in the 4th quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock worth $126,000 after purchasing an additional 131 shares during the period. Beacon Investment Advisors LLC boosted its stake in shares of Sysco by 0.5% during the fourth quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock valued at $1,805,000 after purchasing an additional 133 shares in the last quarter. Plimoth Trust Co. LLC increased its holdings in Sysco by 0.6% during the second quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after buying an additional 139 shares during the period. Finally, Meeder Advisory Services Inc. increased its holdings in Sysco by 1.7% during the first 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 during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Trading Down 0.5 %

NYSE SYY opened at $74.14 on Friday. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The company has a fifty day simple moving average of $75.81 and a two-hundred 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. The stock has a market cap of $36.44 billion, a P/E ratio of 18.08, a P/E/G ratio of 2.01 and a beta of 1.20.

Sysco (NYSE:SYY) last issued its 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 company had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.34 EPS. On average, analysts forecast that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a $0.51 dividend. 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 is currently 49.76%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. BMO Capital Markets dropped their target price on Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Barclays boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Truist Financial lowered their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Finally, Morgan Stanley reduced their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average price target 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.