Sysco Co. (NYSE:SYY) Position Reduced by Franklin Street Advisors Inc. NC

Franklin Street Advisors Inc. NC trimmed its stake in shares of Sysco Co. (NYSE:SYYGet Rating) by 81.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,559 shares of the company’s stock after selling 11,435 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Sysco were worth $217,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SYY. CFS Investment Advisory Services LLC lifted its position in shares of Sysco by 8,046.2% in the 1st quarter. CFS Investment Advisory Services LLC now owns 2,049,905 shares of the company’s stock worth $25,000 after buying an additional 2,024,741 shares during the last quarter. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Sysco in the 1st quarter worth about $29,000. DeDora Capital Inc. bought a new position in shares of Sysco in the 1st quarter worth about $31,000. Column Capital Advisors LLC lifted its position in shares of Sysco by 4,900.0% in the 1st quarter. Column Capital Advisors LLC now owns 400 shares of the company’s stock worth $33,000 after buying an additional 392 shares during the last quarter. Finally, Mascoma Wealth Management LLC increased its holdings in shares of Sysco by 80.0% in the 1st quarter. Mascoma Wealth Management LLC now owns 414 shares of the company’s stock worth $34,000 after acquiring an additional 184 shares during the period. 82.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on SYY. Credit Suisse Group dropped their price objective on shares of Sysco from $107.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, August 10th. Barclays dropped their price objective on shares of Sysco to $100.00 in a report on Monday, August 15th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 14th. JPMorgan Chase & Co. raised shares of Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 target price on the stock in a research note on Thursday, May 26th. Finally, Truist Financial lowered their target price on shares of Sysco from $98.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average price target of $94.13.

Sysco Stock Performance

Shares of SYY opened at $78.45 on Thursday. The firm’s 50 day moving average is $84.17 and its 200-day moving average is $83.51. The stock has a market capitalization of $39.70 billion, a P/E ratio of 29.72, a P/E/G ratio of 2.10 and a beta of 1.01. The company has a debt-to-equity ratio of 7.28, a current ratio of 1.20 and a quick ratio of 0.69. Sysco Co. has a 12-month low of $68.05 and a 12-month high of $91.53.

Sysco (NYSE:SYYGet Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.03. The company had revenue of $18.96 billion for the quarter, compared to analysts’ expectations of $18.29 billion. Sysco had a net margin of 1.98% and a return on equity of 119.55%. The business’s revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS. Equities research analysts anticipate that Sysco Co. will post 4.2 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Thursday, October 6th. Sysco’s payout ratio is 74.24%.

Sysco Company Profile

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Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

See Also

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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