Sysco Co. (NYSE:SYY) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV reduced its holdings in shares of Sysco Co. (NYSE:SYY) by 11.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,867 shares of the company’s stock after selling 7,309 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Sysco were worth $3,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC purchased a new stake in shares of Sysco during the second quarter worth about $25,000. OFI Invest Asset Management purchased a new stake in Sysco during the 1st quarter worth approximately $31,000. Burkett Financial Services LLC purchased a new stake in Sysco during the 4th quarter worth approximately $30,000. Fairman Group LLC acquired a new position in Sysco during the 4th quarter valued at approximately $39,000. Finally, LRI Investments LLC purchased a new position in shares of Sysco in the first quarter worth $45,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. 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 report on Monday, June 24th. Barclays increased their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a report on Tuesday, May 28th. Morgan Stanley cut their price target 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, Bank of America decreased 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. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.55.

Sysco Trading Up 1.4 %

Shares of Sysco stock opened at $75.19 on Friday. The company has a market cap of $37.44 billion, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. 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 50-day simple moving average of $75.87 and a two-hundred day simple moving average of $75.55.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $20.51 billion. During the same period in the prior year, the company posted $1.34 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities analysts predict that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

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

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.