Thrivent Financial for Lutherans Has $110.52 Million Stake in Sysco Co. (NYSE:SYY)

Thrivent Financial for Lutherans cut its position in shares of Sysco Co. (NYSE:SYY) by 1.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,548,041 shares of the company’s stock after selling 15,207 shares during the quarter. Thrivent Financial for Lutherans owned 0.31% of Sysco worth $110,515,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. TruNorth Capital Management LLC bought a new position in shares of Sysco during the 2nd quarter worth approximately $25,000. OFI Invest Asset Management bought a new position in Sysco in the first quarter valued at $31,000. Burkett Financial Services LLC acquired a new stake in Sysco in the 4th quarter valued at $30,000. Fairman Group LLC bought a new stake in Sysco during the 4th quarter worth about $39,000. Finally, LRI Investments LLC acquired a new position in shares of Sysco during the 1st quarter worth about $45,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of recent research reports. Truist Financial lowered their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Barclays upped their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research note on Tuesday, May 28th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Finally, JPMorgan Chase & Co. lifted their price objective 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. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $85.55.

Sysco Stock Performance

Shares of NYSE:SYY opened at $75.19 on Friday. The company’s 50 day simple moving average is $75.87 and its 200 day simple moving average is $75.57. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The stock has a market capitalization of $37.44 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping 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 company had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. During the same quarter in the previous year, the firm earned $1.34 EPS. Sysco’s revenue was up 4.2% on a year-over-year basis. As a group, research analysts predict that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors 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 yield of 2.71%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio is 49.76%.

About Sysco

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.