Farmers & Merchants Investments Inc. Sells 3,714 Shares of Sysco Co. (NYSE:SYY)

Farmers & Merchants Investments Inc. trimmed its stake in shares of Sysco Co. (NYSE:SYY) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,673 shares of the company’s stock after selling 3,714 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Sysco were worth $15,966,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Ancora Advisors LLC lifted its position in Sysco by 3.9% during the third quarter. Ancora Advisors LLC now owns 4,602 shares of the company’s stock worth $304,000 after purchasing an additional 171 shares during the period. United Services Automobile Association raised its stake in Sysco by 12.4% during the third quarter. United Services Automobile Association now owns 13,630 shares of the company’s stock worth $900,000 after acquiring an additional 1,502 shares in the last quarter. AQR Capital Management LLC raised its stake in Sysco by 283.8% during the third quarter. AQR Capital Management LLC now owns 452,430 shares of the company’s stock worth $29,883,000 after acquiring an additional 334,551 shares in the last quarter. Truist Financial Corp raised its stake in Sysco by 7.9% during the third quarter. Truist Financial Corp now owns 423,532 shares of the company’s stock worth $27,974,000 after acquiring an additional 31,042 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its stake in Sysco by 100.0% during the third quarter. Axxcess Wealth Management LLC now owns 14,660 shares of the company’s stock worth $968,000 after acquiring an additional 7,330 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on SYY shares. JPMorgan Chase & Co. lowered their target price on Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. 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. Morgan Stanley lowered their price objective on Sysco from $84.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, May 23rd. Finally, BMO Capital Markets lowered their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and a consensus price target of $84.90.

Sysco Trading Up 1.0 %

Shares of NYSE:SYY traded up $0.67 during mid-day trading on Tuesday, hitting $70.55. The company had a trading volume of 929,951 shares, compared to its average volume of 3,165,353. The firm has a fifty day moving average price of $73.94 and a 200 day moving average price of $76.41. The company has a market capitalization of $35.13 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. Sysco Co. has a one year low of $62.24 and a one year high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The business had revenue of $19.38 billion during the quarter, compared to analyst estimates of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. Sysco’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 EPS. As a group, research analysts forecast that Sysco Co. will post 4.3 EPS for the current year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be paid a dividend of $0.51 per share. This is a boost from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio is presently 48.78%.

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.