Lavaca Capital LLC Sells 3,400 Shares of Sysco Co. (NYSE:SYY)

Lavaca Capital LLC trimmed its holdings in Sysco Co. (NYSE:SYY) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 229,200 shares of the company’s stock after selling 3,400 shares during the period. Sysco accounts for about 8.4% of Lavaca Capital LLC’s portfolio, making the stock its 2nd biggest holding. Lavaca Capital LLC’s holdings in Sysco were worth $16,363,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Chicago Partners Investment Group LLC lifted its position in 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 acquiring an additional 124 shares during the last quarter. Bell Investment Advisors Inc boosted its stake in Sysco by 8.2% in the 4th 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 period. Beacon Investment Advisors LLC boosted 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 valued at $1,805,000 after purchasing an additional 133 shares during the period. Plimoth Trust Co. LLC increased its position in Sysco by 0.6% during 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 period. Finally, Meeder Advisory Services Inc. increased its position in Sysco by 1.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock worth $679,000 after buying an additional 141 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

NYSE:SYY opened at $75.19 on Friday. 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. The stock’s 50-day simple moving average is $75.87 and its 200 day simple moving average is $75.55. The firm has a market capitalization of $37.44 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company posted $1.34 EPS. On average, analysts anticipate that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.51 per share. The ex-dividend date 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%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SYY. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Tuesday, May 28th. Truist Financial lowered their target price 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. Bank of America cut their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average target price of $85.55.

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.