Sysco Co. (NYSE:SYY) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its stake in Sysco Co. (NYSE:SYY) by 1.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 319,629 shares of the company’s stock after selling 4,901 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.06% of Sysco worth $23,717,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SYY. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Sysco by 93,506.3% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 132,992,967 shares of the company’s stock worth $9,868,078,000 after buying an additional 132,850,890 shares during the period. Wellington Management Group LLP boosted its position in shares of Sysco by 4.5% in the first quarter. Wellington Management Group LLP now owns 32,536,930 shares of the company’s stock worth $2,512,827,000 after buying an additional 1,408,716 shares during the period. BlackRock Inc. boosted its position in shares of Sysco by 1.1% in the first quarter. BlackRock Inc. now owns 32,382,737 shares of the company’s stock worth $2,500,919,000 after buying an additional 346,458 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Sysco by 0.6% in the first quarter. JPMorgan Chase & Co. now owns 15,735,594 shares of the company’s stock worth $1,215,261,000 after buying an additional 100,884 shares during the period. Finally, Parnassus Investments LLC boosted its position in shares of Sysco by 0.4% in the second quarter. Parnassus Investments LLC now owns 13,660,024 shares of the company’s stock worth $1,013,574,000 after buying an additional 57,317 shares during the period. 80.60% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

Shares of NYSE:SYY opened at $71.27 on Tuesday. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $87.21. The business has a 50-day moving average of $66.81 and a two-hundred day moving average of $70.65. The stock has a market capitalization of $35.95 billion, a P/E ratio of 20.08, a P/E/G ratio of 1.43 and a beta of 1.13. The company has a debt-to-equity ratio of 5.04, a current ratio of 1.29 and a quick ratio of 0.74.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. The business had revenue of $19.62 billion for the quarter, compared to analyst estimates of $19.73 billion. Sysco had a return on equity of 117.17% and a net margin of 2.35%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 earnings per share. On average, equities research analysts predict that Sysco Co. will post 4.32 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 5th will be paid a $0.50 dividend. The ex-dividend date is Thursday, January 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.81%. Sysco’s payout ratio is presently 56.34%.

Wall Street Analyst Weigh In

SYY has been the subject of several recent analyst reports. Truist Financial decreased their target price on Sysco from $88.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, August 2nd. Barclays reduced their price objective on Sysco from $86.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday, October 23rd. Stephens reduced their price objective on Sysco from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, November 1st. Morgan Stanley lifted their price objective on Sysco from $75.00 to $76.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 1st. Finally, Deutsche Bank Aktiengesellschaft started coverage on Sysco in a research report on Thursday, October 19th. They set a “buy” rating and a $75.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given 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 price target of $83.30.

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.