Sysco Co. (NYSE:SYY) Shares Sold by Everett Harris & Co. CA

Everett Harris & Co. CA trimmed its holdings in Sysco Co. (NYSE:SYY) by 3.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,367 shares of the company’s stock after selling 2,023 shares during the period. Everett Harris & Co. CA’s holdings in Sysco were worth $4,819,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Professional Advisory Services Inc. acquired a new stake in shares of Sysco during the 4th quarter worth about $20,057,000. Harbour Trust & Investment Management Co acquired a new stake in shares of Sysco during the 4th quarter worth about $4,623,000. Pacer Advisors Inc. boosted its stake in shares of Sysco by 40.1% during the 4th quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock worth $6,014,000 after purchasing an additional 23,558 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Sysco by 16.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock worth $21,865,000 after purchasing an additional 41,618 shares during the last quarter. Finally, Bridgefront Capital LLC acquired a new stake in shares of Sysco during the 4th quarter worth about $841,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SYY shares. BMO Capital Markets decreased their price target on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 23rd. JPMorgan Chase & Co. decreased their price target on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. UBS Group cut their price objective on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Truist Financial cut their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Finally, Piper Sandler cut their price objective on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus price target of $84.90.

Sysco Trading Down 0.8 %

NYSE SYY traded down $0.54 during mid-day trading on Thursday, hitting $70.05. The company’s stock had a trading volume of 1,781,874 shares, compared to its average volume of 3,922,399. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The stock’s fifty day simple moving average is $73.52 and its two-hundred day simple moving average is $76.31. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. The firm has a market capitalization of $34.88 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 1.90 and a beta of 1.18.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The firm had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same quarter last year, the firm posted $0.90 earnings per share. Sysco’s revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts expect that Sysco Co. will post 4.3 EPS for the current year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.91%. This is a positive change from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio (DPR) is currently 48.78%.

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.