Mutual of America Capital Management LLC Sells 2,450 Shares of Sysco Co. (NYSE:SYY)

Mutual of America Capital Management LLC decreased its position in Sysco Co. (NYSE:SYY) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,860 shares of the company’s stock after selling 2,450 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Sysco were worth $4,488,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Partners LLC boosted its stake in shares of Sysco by 3,159.0% in the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after buying an additional 6,855 shares during the last quarter. Bridgefront Capital LLC purchased a new position in Sysco in the fourth quarter worth $841,000. Nebula Research & Development LLC bought a new position in Sysco in the 4th quarter valued at $916,000. Artisan Partners Limited Partnership increased its position in shares of Sysco by 11.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 597,216 shares of the company’s stock valued at $43,674,000 after purchasing an additional 62,556 shares during the last quarter. Finally, Mizuho Markets Americas LLC raised its stake in shares of Sysco by 102.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after purchasing an additional 70,660 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SYY shares. JPMorgan Chase & Co. increased their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Barclays increased their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Tuesday, May 28th. Truist Financial reduced their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. Finally, Bank of America lowered their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $85.55.

Sysco Stock Up 1.4 %

Shares of NYSE SYY opened at $75.19 on Friday. 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 company 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 Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The business has a 50-day simple moving average of $75.87 and a two-hundred day simple moving average of $75.55.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, beating 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 net margin of 2.48% and a return on equity of 102.09%. Sysco’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the business earned $1.34 earnings per share. Research analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed 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 dividend yield of 2.71%. Sysco’s dividend payout ratio (DPR) is presently 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.