Longview Partners Guernsey LTD Has $463.94 Million Stock Holdings in Sysco Co. (NYSE:SYY)

Longview Partners Guernsey LTD decreased its holdings in Sysco Co. (NYSE:SYY) by 11.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,498,677 shares of the company’s stock after selling 865,953 shares during the quarter. Sysco accounts for approximately 3.4% of Longview Partners Guernsey LTD’s holdings, making the stock its 21st biggest holding. Longview Partners Guernsey LTD owned 1.31% of Sysco worth $463,941,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. TruNorth Capital Management LLC bought a new stake in shares of Sysco in the 2nd quarter worth about $25,000. Burkett Financial Services LLC acquired a new stake in shares of Sysco during the 4th quarter worth approximately $30,000. OFI Invest Asset Management bought a new position in Sysco during the 1st quarter worth approximately $31,000. Fairman Group LLC bought a new position in Sysco during the 4th quarter worth approximately $39,000. Finally, Livelsberger Financial Advisory bought a new position in Sysco during the 4th quarter worth approximately $44,000. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SYY. Truist Financial cut their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Bank of America cut their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Barclays boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. 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 Monday, September 16th. Finally, Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.55.

Sysco Price Performance

Shares of SYY opened at $75.19 on Friday. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The business’s fifty day moving average is $75.87 and its 200 day moving average is $75.57. 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 stock has a market cap of $37.44 billion, a P/E ratio of 18.34, a P/E/G ratio of 2.01 and a beta of 1.20.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. During the same period last year, the firm posted $1.34 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. Sell-side analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.71%. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

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.