MQS Management LLC Sells 165 Shares of Sysco Co. (NYSE:SYY)

MQS Management LLC reduced its stake in shares of Sysco Co. (NYSE:SYY) by 4.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,472 shares of the company’s stock after selling 165 shares during the period. MQS Management LLC’s holdings in Sysco were worth $248,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYY. TruNorth Capital Management LLC bought a new position in shares of Sysco during the second quarter worth about $25,000. Burkett Financial Services LLC acquired a new stake in Sysco during the 4th quarter valued at approximately $30,000. OFI Invest Asset Management acquired a new position in shares of Sysco in the 1st quarter worth approximately $31,000. Fairman Group LLC acquired a new position in shares of Sysco in the 4th quarter worth approximately $39,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Sysco in the 4th quarter valued at $44,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Trading Up 1.4 %

Shares of Sysco stock opened at $75.19 on Friday. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The stock has a 50 day moving average price of $75.87 and a two-hundred day moving average price of $75.57. The stock has a market capitalization of $37.44 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20.

Sysco (NYSE:SYY) last announced its quarterly earnings results 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 net margin of 2.48% and a return on equity of 102.09%. The business had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. During the same quarter in the previous year, the business posted $1.34 EPS. Sysco’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio is currently 49.76%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SYY. Barclays lifted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Truist Financial lowered their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Morgan Stanley cut their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Finally, Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average 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.