Transatlantique Private Wealth LLC Trims Holdings in Sysco Co. (NYSE:SYY)

Transatlantique Private Wealth LLC trimmed its holdings in Sysco Co. (NYSE:SYY) by 32.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,817 shares of the company’s stock after selling 3,347 shares during the quarter. Transatlantique Private Wealth LLC’s holdings in Sysco were worth $487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Capital World Investors bought a new position in Sysco during the 4th quarter valued at approximately $683,599,000. Capital Research Global Investors increased its holdings in shares of Sysco by 112.8% during the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after acquiring an additional 3,504,740 shares in the last quarter. Swedbank AB purchased a new position in shares of Sysco in the 1st quarter worth about $178,824,000. The Manufacturers Life Insurance Company boosted its stake in Sysco by 132.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock worth $267,177,000 after purchasing an additional 2,084,501 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its position in Sysco by 49.8% during the 2nd 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 during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SYY shares. Truist Financial decreased their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. Morgan Stanley decreased their target price 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. Barclays boosted their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Two 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’s stock. According to MarketBeat, Sysco has a consensus rating of “Moderate Buy” and a consensus price target of $85.55.

Sysco Stock Up 1.4 %

SYY stock opened at $75.19 on Friday. The stock has a market cap of $37.44 billion, a P/E ratio of 18.34, a PEG ratio of 2.01 and a beta of 1.20. The business’s 50-day moving average price is $75.87 and its 200-day moving average price is $75.57. Sysco Co. has a twelve month low of $62.24 and a twelve 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.

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

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Friday, October 4th. Sysco’s payout ratio is 49.76%.

Sysco Company 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.