Sysco Co. (NYSE:SYY) Shares Sold by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC reduced its position in Sysco Co. (NYSE:SYY) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 76,478 shares of the company’s stock after selling 6,342 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Sysco were worth $5,460,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYY. Capital World Investors acquired a new stake in Sysco in the 4th quarter valued at about $683,599,000. Norges Bank acquired a new stake in shares of Sysco in the fourth quarter valued at approximately $450,794,000. Capital Research Global Investors lifted its position in Sysco by 112.8% during the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after buying an additional 3,504,740 shares in the last quarter. Swedbank AB acquired a new position in Sysco during the first quarter worth $178,824,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Sysco by 132.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock valued at $267,177,000 after buying an additional 2,084,501 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SYY. Barclays lifted their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Morgan Stanley decreased their target price 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. Deutsche Bank Aktiengesellschaft cut their price target on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Bank of America lowered their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. reduced their target price on Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $85.27.

Sysco Trading Down 0.2 %

Shares of NYSE SYY opened at $78.41 on Tuesday. The stock has a fifty day simple moving average of $74.78 and a 200-day simple moving average of $75.77. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The stock has a market capitalization of $38.54 billion, a PE ratio of 19.12, a PEG ratio of 2.05 and a beta of 1.20.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. During the same period in the prior year, the firm earned $1.34 earnings per share. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts forecast that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Friday, October 4th. Sysco’s payout ratio is currently 49.76%.

Sysco 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.