Summit Trail Advisors LLC Trims Stock Holdings in Sysco Co. (NYSE:SYY)

Summit Trail Advisors LLC lowered its position in shares of Sysco Co. (NYSE:SYY) by 10.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,731 shares of the company’s stock after selling 1,265 shares during the quarter. Summit Trail Advisors LLC’s holdings in Sysco were worth $766,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. TruNorth Capital Management LLC bought a new stake in Sysco during the second quarter worth about $25,000. Burkett Financial Services LLC purchased a new stake in shares of Sysco in the 4th quarter worth approximately $30,000. OFI Invest Asset Management purchased a new stake in shares of Sysco in the 1st quarter worth approximately $31,000. Fairman Group LLC bought a new position in Sysco during the 4th quarter valued at approximately $39,000. Finally, Livelsberger Financial Advisory purchased a new position in Sysco during the fourth quarter valued at $44,000. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 1.4 %

Sysco stock opened at $75.19 on Monday. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. 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. 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 business has a 50-day simple moving average of $75.87 and a two-hundred day simple moving average of $75.52.

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 net margin of 2.48% and a return on equity of 102.09%. The company had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. During the same period in the previous year, the business posted $1.34 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. Analysts predict that Sysco Co. will post 4.6 EPS for the current year.

Sysco Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SYY shares. Truist Financial reduced their price target on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. Bank of America decreased their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Barclays increased their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Morgan Stanley reduced their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Two research 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. According to MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus 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.