Skandinaviska Enskilda Banken AB publ Has $7.18 Million Stock Position in Sysco Co. (NYSE:SYY)

Skandinaviska Enskilda Banken AB publ lifted its position in shares of Sysco Co. (NYSE:SYY) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,523 shares of the company’s stock after purchasing an additional 810 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Sysco were worth $7,176,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Accretive Wealth Partners LLC raised its stake in shares of Sysco by 1.0% in the 4th quarter. Accretive Wealth Partners LLC now owns 21,788 shares of the company’s stock valued at $1,593,000 after buying an additional 212 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in Sysco by 55.0% in the fourth quarter. Gryphon Financial Partners LLC now owns 4,817 shares of the company’s stock valued at $352,000 after acquiring an additional 1,710 shares during the period. Franklin Resources Inc. raised its position in Sysco by 28.3% in the fourth quarter. Franklin Resources Inc. now owns 424,407 shares of the company’s stock worth $31,037,000 after purchasing an additional 93,628 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Sysco by 8.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,824 shares of the company’s stock worth $133,000 after purchasing an additional 142 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Sysco by 1.2% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 70,820 shares of the company’s stock valued at $5,179,000 after purchasing an additional 853 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Trading Up 1.4 %

SYY stock opened at $75.19 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The company has a market cap of $37.44 billion, a P/E ratio of 18.34, a PEG ratio of 2.01 and a beta of 1.20. The business has a fifty day moving average of $75.87 and a 200-day moving average of $75.55.

Sysco (NYSE:SYY) last announced its quarterly earnings data 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. The firm had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.34 EPS. As a group, equities research analysts expect that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SYY shares. Truist Financial cut their target price on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Tuesday, May 28th. Bank of America dropped their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Barclays boosted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley dropped their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. 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 company’s stock. According to MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.55.

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.