Sysco Co. (NYSE:SYY) Shares Sold by Red Mountain Financial LLC

Red Mountain Financial LLC reduced its holdings in Sysco Co. (NYSE:SYY) by 4.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,961 shares of the company’s stock after selling 137 shares during the period. Red Mountain Financial LLC’s holdings in Sysco were worth $231,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Walker Financial Services Inc. purchased a new position in shares of Sysco in the third quarter valued at approximately $348,000. LVW Advisors LLC purchased a new position in shares of Sysco in the third quarter valued at approximately $225,000. Franklin Street Advisors Inc. NC lifted its position in shares of Sysco by 11.1% in the third quarter. Franklin Street Advisors Inc. NC now owns 5,607 shares of the company’s stock valued at $438,000 after acquiring an additional 560 shares in the last quarter. Albion Financial Group UT lifted its position in shares of Sysco by 27.8% in the third quarter. Albion Financial Group UT now owns 1,378 shares of the company’s stock valued at $108,000 after acquiring an additional 300 shares in the last quarter. Finally, Tobam purchased a new position in shares of Sysco in the third quarter valued at approximately $81,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

NYSE SYY opened at $74.42 on Friday. The company has a market cap 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. Sysco Co. has a 1-year low of $62.45 and a 1-year high of $82.89. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The stock has a 50-day moving average of $76.53 and a two-hundred day moving average of $75.12.

Sysco (NYSE:SYY) last announced its earnings results 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. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. During the same period in the prior year, the firm earned $1.34 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, analysts anticipate that Sysco Co. will post 4.6 EPS 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 2.74%. The ex-dividend date is Friday, October 4th. Sysco’s payout ratio is currently 49.76%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SYY. Bank of America reduced their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Morgan Stanley lowered their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Finally, Truist Financial cut their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $86.08.

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.