Sky Investment Group LLC Has $5.83 Million Position in Sysco Co. (NYSE:SYY)

Sky Investment Group LLC reduced its stake in Sysco Co. (NYSE:SYY) by 1.0% during the 2nd quarter, Holdings Channel reports. The fund owned 81,628 shares of the company’s stock after selling 836 shares during the period. Sky Investment Group LLC’s holdings in Sysco were worth $5,827,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. First United Bank & Trust bought a new stake in shares of Sysco during the 4th quarter worth approximately $26,000. Verity & Verity LLC acquired a new position in Sysco during the first quarter valued at approximately $26,000. Burkett Financial Services LLC bought a new stake in Sysco during the fourth quarter worth $30,000. OFI Invest Asset Management acquired a new stake in shares of Sysco in the 1st quarter valued at $31,000. Finally, Headlands Technologies LLC bought a new position in shares of Sysco in the 4th quarter valued at $34,000. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Up 0.8 %

Shares of Sysco stock traded up $0.64 during trading on Wednesday, hitting $76.01. The company’s stock had a trading volume of 2,983,930 shares, compared to its average volume of 3,123,874. The stock has a market cap of $37.85 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The stock has a 50-day moving average price of $72.94 and a two-hundred day moving average price of $76.10. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The firm had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. During the same quarter in the previous year, the company posted $1.34 EPS. The business’s revenue was up 4.2% on a year-over-year basis. Equities research analysts anticipate that Sysco Co. will post 4.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays upped their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Truist Financial reduced their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Piper Sandler lowered their price objective on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Morgan Stanley cut their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.27.

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.