Sysco Co. (NYSE:SYY) Shares Sold by Creative Planning

Creative Planning cut its holdings in shares of Sysco Co. (NYSE:SYY) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 190,062 shares of the company’s stock after selling 1,321 shares during the period. Creative Planning’s holdings in Sysco were worth $13,569,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. ORG Partners LLC lifted its position in shares of Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after purchasing an additional 6,855 shares during the last quarter. Bridgefront Capital LLC bought a new position in shares of Sysco during the fourth quarter worth about $841,000. Nebula Research & Development LLC bought a new position in shares of Sysco during the fourth quarter worth about $916,000. Mizuho Markets Americas LLC lifted its position in shares of Sysco by 102.1% during the first 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 last quarter. Finally, Wedge Capital Management L L P NC lifted its position in shares of Sysco by 11.6% during the second quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock worth $12,577,000 after purchasing an additional 18,296 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Trading Up 0.5 %

Sysco stock opened at $78.06 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 firm has a market cap of $38.37 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The firm’s 50 day moving average price is $76.30 and its two-hundred day moving average price is $75.39.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter last year, the business posted $1.34 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, research analysts predict that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.61%. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Bank of America reduced their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Barclays raised their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Morgan Stanley cut their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Finally, Jefferies Financial Group raised their target price on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.08.

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.