Kiltearn Partners LLP Cuts Stock Position in Sysco Co. (NYSE:SYY)

Kiltearn Partners LLP trimmed its position in Sysco Co. (NYSE:SYY) by 4.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 241,800 shares of the company’s stock after selling 12,400 shares during the period. Sysco makes up about 2.1% of Kiltearn Partners LLP’s holdings, making the stock its 20th biggest position. Kiltearn Partners LLP’s holdings in Sysco were worth $17,262,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SYY. TruNorth Capital Management LLC acquired a new position in shares of Sysco during the second quarter worth about $25,000. OFI Invest Asset Management acquired a new position in Sysco during the 1st quarter worth approximately $31,000. Burkett Financial Services LLC acquired a new position in Sysco during the 4th quarter worth approximately $30,000. Fairscale Capital LLC acquired a new stake in shares of Sysco in the 2nd quarter valued at approximately $38,000. Finally, Fairman Group LLC purchased a new stake in shares of Sysco in the fourth quarter valued at approximately $39,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Price Performance

Shares of NYSE:SYY opened at $76.17 on Tuesday. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The business’s fifty day moving average price is $75.96 and its two-hundred day moving average price is $75.50. The stock has a market cap of $37.93 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20. Sysco Co. has a one year low of $62.24 and a one year high of $82.89.

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

Sysco Announces Dividend

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 dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio is currently 49.76%.

Wall Street Analyst Weigh In

Several research firms have issued reports on SYY. Barclays increased their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Bank of America reduced their price objective on shares of 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. upped their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. Finally, Truist Financial lowered their price target on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Two investment 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $85.55.

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.