Parkside Financial Bank & Trust Purchases 234 Shares of Sysco Co. (NYSE:SYY)

Parkside Financial Bank & Trust raised its stake in Sysco Co. (NYSE:SYYGet Rating) by 28.1% during the second quarter, HoldingsChannel reports. The fund owned 1,067 shares of the company’s stock after buying an additional 234 shares during the period. Parkside Financial Bank & Trust’s holdings in Sysco were worth $91,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Qube Research & Technologies Ltd purchased a new stake in shares of Sysco in the first quarter worth $1,876,000. Wedmont Private Capital grew its stake in shares of Sysco by 17.0% in the second quarter. Wedmont Private Capital now owns 3,599 shares of the company’s stock worth $305,000 after acquiring an additional 522 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in shares of Sysco by 23.0% in the second quarter. Foundations Investment Advisors LLC now owns 4,162 shares of the company’s stock worth $353,000 after acquiring an additional 779 shares during the last quarter. Amalgamated Bank grew its stake in shares of Sysco by 4.5% in the first quarter. Amalgamated Bank now owns 135,525 shares of the company’s stock worth $11,066,000 after acquiring an additional 5,796 shares during the last quarter. Finally, MML Investors Services LLC grew its stake in shares of Sysco by 5.1% in the fourth quarter. MML Investors Services LLC now owns 38,522 shares of the company’s stock worth $3,026,000 after acquiring an additional 1,882 shares during the last quarter. 82.43% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Down 1.4 %

SYY stock opened at $77.38 on Friday. Sysco Co. has a fifty-two week low of $68.05 and a fifty-two week high of $91.53. The business’s 50-day moving average is $83.98 and its two-hundred day moving average is $83.51. The company has a debt-to-equity ratio of 7.28, a quick ratio of 0.69 and a current ratio of 1.20. The company has a market cap of $39.16 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 2.07 and a beta of 1.01.

Sysco (NYSE:SYYGet Rating) last posted its earnings results on Tuesday, August 9th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. Sysco had a return on equity of 119.55% and a net margin of 1.98%. The company had revenue of $18.96 billion for the quarter, compared to the consensus estimate of $18.29 billion. During the same quarter in the prior year, the company earned $0.71 earnings per share. Sysco’s revenue was up 17.5% on a year-over-year basis. As a group, analysts forecast that Sysco Co. will post 4.2 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Thursday, October 6th. Sysco’s dividend payout ratio (DPR) is currently 74.24%.

Analyst Upgrades and Downgrades

SYY has been the topic of several recent analyst reports. Credit Suisse Group dropped their price objective on Sysco from $107.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 10th. JPMorgan Chase & Co. raised Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 price objective on the stock in a research report on Thursday, May 26th. Stephens initiated coverage on Sysco in a research report on Thursday. They set an “overweight” rating on the stock. Barclays dropped their price objective on Sysco to $100.00 in a research report on Monday, August 15th. Finally, Truist Financial dropped their price objective on Sysco from $98.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, August 10th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.13.

Sysco Profile

(Get Rating)

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

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Co. (NYSE:SYYGet Rating).

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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