Sysco Co. (NYSE:SYY) Shares Sold by City Holding Co.

City Holding Co. trimmed its position in Sysco Co. (NYSE:SYY) by 2.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,878 shares of the company’s stock after selling 567 shares during the quarter. City Holding Co.’s holdings in Sysco were worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SYY. Capital Research Global Investors increased its stake in Sysco by 112.8% during the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after purchasing an additional 3,504,740 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Sysco by 103.0% in the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after buying an additional 2,408,226 shares during the period. Swedbank AB bought a new stake in shares of Sysco during the 1st quarter valued at about $178,824,000. Diamond Hill Capital Management Inc. raised its stake in Sysco by 49.8% during the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after acquiring an additional 1,997,895 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Sysco by 26.1% in the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after acquiring an additional 1,782,180 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Up 0.8 %

Sysco stock opened at $75.32 on Wednesday. Sysco Co. has a 52 week low of $62.40 and a 52 week high of $82.89. The stock has a market cap of $37.00 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.96 and a beta of 1.20. The company’s 50-day moving average price is $76.68 and its two-hundred day moving average price is $75.22. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19.

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. The business had revenue of $20.56 billion for 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%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the business earned $1.34 earnings per share. On average, analysts expect that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SYY. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Bank of America lowered their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Truist Financial cut their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. JPMorgan Chase & Co. boosted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Jefferies Financial Group increased their price objective 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 equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.08.

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.