Janney Montgomery Scott LLC Decreases Stock Position in Sysco Co. (NYSE:SYY)

Janney Montgomery Scott LLC trimmed its position in shares of Sysco Co. (NYSE:SYY) by 2.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 347,106 shares of the company’s stock after selling 8,975 shares during the quarter. Janney Montgomery Scott LLC owned 0.07% of Sysco worth $28,178,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYY. First United Bank & Trust bought a new stake in shares of Sysco during the 4th quarter worth approximately $26,000. Verity & Verity LLC bought a new stake in shares of Sysco during the first quarter worth $26,000. AdvisorNet Financial Inc boosted its stake in shares of Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares during the period. Burkett Financial Services LLC bought a new position in shares of Sysco in the fourth quarter worth about $30,000. Finally, OFI Invest Asset Management purchased a new position in Sysco in the 1st quarter worth about $31,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Up 0.3 %

Sysco stock traded up $0.21 during trading hours on Friday, reaching $69.75. The stock had a trading volume of 2,308,655 shares, compared to its average volume of 3,712,760. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a market cap of $34.73 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.88 and a beta of 1.18. 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 business’s 50 day moving average price is $73.23 and its 200-day moving average price is $76.25.

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

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be given a dividend of $0.51 per share. This is a positive change from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Friday, July 5th. Sysco’s dividend payout ratio is currently 48.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. BMO Capital Markets dropped their target price 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. Morgan Stanley dropped their price objective on Sysco from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 23rd. UBS Group decreased their target price on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Piper Sandler dropped their price target on Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Finally, Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.90.

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.