Everett Harris & Co. CA Reduces Stock Holdings in Sysco Co. (NYSE:SYY)

Everett Harris & Co. CA reduced its stake in shares of Sysco Co. (NYSE:SYY) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,466 shares of the company’s stock after selling 1,430 shares during the quarter. Everett Harris & Co. CA’s holdings in Sysco were worth $4,408,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of SYY. Fisher Asset Management LLC raised its holdings in shares of Sysco by 52.5% during the 4th quarter. Fisher Asset Management LLC now owns 8,084 shares of the company’s stock valued at $591,000 after buying an additional 2,784 shares during the period. Alaska Permanent Fund Corp acquired a new stake in Sysco during the 1st quarter valued at approximately $105,000. Fulton Bank N.A. grew its stake in Sysco by 9.0% during the 1st quarter. Fulton Bank N.A. now owns 3,085 shares of the company’s stock valued at $250,000 after purchasing an additional 256 shares in the last quarter. Wedmont Private Capital grew its stake in Sysco by 4.8% during the 1st quarter. Wedmont Private Capital now owns 4,622 shares of the company’s stock valued at $358,000 after purchasing an additional 210 shares in the last quarter. Finally, Marcum Wealth LLC acquired a new stake in Sysco during the 1st quarter valued at approximately $290,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Stock Up 0.2 %

Shares of SYY stock traded up $0.16 on Friday, reaching $75.54. 3,048,198 shares of the company’s stock traded hands, compared to its average volume of 3,163,805. Sysco Co. has a 12-month low of $64.28 and a 12-month high of $82.89. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The company has a market capitalization of $37.11 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.96 and a beta of 1.20. The business’s 50 day moving average price is $76.55 and its two-hundred day moving average price is $74.92.

Sysco (NYSE:SYY) last issued 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 return on equity of 102.09% and a net margin of 2.48%. 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 posted $1.34 EPS. The business’s revenue 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 company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s payout ratio is currently 52.44%.

Wall Street Analyst Weigh In

SYY has been the subject of a number of recent analyst reports. Truist Financial lowered their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Barclays lifted their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Morgan Stanley decreased their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. lifted their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.08.

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.