Sysco Co. (NYSE:SYY) Shares Sold by Marcum Wealth LLC

Marcum Wealth LLC cut its position in Sysco Co. (NYSE:SYY) by 12.3% in the third quarter, Holdings Channel reports. The firm owned 3,228 shares of the company’s stock after selling 453 shares during the period. Marcum Wealth LLC’s holdings in Sysco were worth $252,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. Chicago Partners Investment Group LLC boosted its position in shares of Sysco by 1.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock valued at $536,000 after purchasing an additional 124 shares during the period. Plimoth Trust Co. LLC boosted its position in shares of Sysco by 0.6% in the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock valued at $1,610,000 after purchasing an additional 139 shares during the period. Meeder Advisory Services Inc. boosted its position in shares of Sysco by 1.7% in the 1st quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock valued at $679,000 after purchasing an additional 141 shares during the period. Tompkins Financial Corp lifted its position in Sysco by 1.6% during the 1st quarter. Tompkins Financial Corp now owns 9,144 shares of the company’s stock worth $742,000 after acquiring an additional 144 shares during the period. Finally, Moseley Investment Management Inc. lifted its position in Sysco by 2.0% during the 1st quarter. Moseley Investment Management Inc. now owns 7,322 shares of the company’s stock worth $594,000 after acquiring an additional 145 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SYY. JPMorgan Chase & Co. increased their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Jefferies Financial Group increased their price objective on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Bank of America decreased 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. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial decreased their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $86.08.

Sysco Stock Up 0.8 %

SYY opened at $74.42 on Friday. Sysco Co. has a 12 month low of $62.45 and a 12 month high of $82.89. The stock has a market capitalization of $37.06 billion, a P/E ratio of 18.15, a P/E/G ratio of 1.94 and a beta of 1.20. The business has a 50 day simple moving average of $76.53 and a 200-day simple moving average of $75.12. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating 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 firm had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. During the same period last year, the business posted $1.34 EPS. Sysco’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s payout ratio is currently 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.