Ballentine Partners LLC Boosts Stock Holdings in Sysco Co. (NYSE:SYY)

Ballentine Partners LLC lifted its stake in Sysco Co. (NYSE:SYY) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,055 shares of the company’s stock after purchasing an additional 281 shares during the period. Ballentine Partners LLC’s holdings in Sysco were worth $816,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hummer Financial Advisory Services Inc increased its stake in Sysco by 4.8% in the 1st quarter. Hummer Financial Advisory Services Inc now owns 3,615 shares of the company’s stock valued at $293,000 after purchasing an additional 165 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Sysco by 0.6% during the 1st quarter. Gulf International Bank UK Ltd now owns 41,817 shares of the company’s stock worth $3,394,000 after buying an additional 251 shares during the last quarter. Meyer Handelman Co. boosted its position in shares of Sysco by 0.6% in the 1st quarter. Meyer Handelman Co. now owns 556,794 shares of the company’s stock worth $45,201,000 after buying an additional 3,400 shares in the last quarter. Tealwood Asset Management Inc. increased its holdings in Sysco by 1.8% during the 1st quarter. Tealwood Asset Management Inc. now owns 15,816 shares of the company’s stock valued at $1,284,000 after acquiring an additional 284 shares in the last quarter. Finally, Allied Investment Advisors LLC raised its position in Sysco by 3.8% during the first quarter. Allied Investment Advisors LLC now owns 116,005 shares of the company’s stock worth $9,417,000 after acquiring an additional 4,253 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Trading Up 0.4 %

Sysco stock traded up $0.33 during midday trading on Monday, reaching $73.68. The stock had a trading volume of 88,954 shares, compared to its average volume of 3,043,009. The stock has a market capitalization of $36.69 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 2.09 and a beta of 1.17. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34. The stock’s 50-day simple moving average is $74.22 and its 200 day simple moving average is $76.45. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89.

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

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, July 5th. This is a positive change from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a yield of 2.77%. Sysco’s dividend payout ratio (DPR) is 48.78%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SYY. BMO Capital Markets cut their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. UBS Group decreased their price target on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Truist Financial cut their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday. Finally, Morgan Stanley lowered their target price on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and a consensus target price of $84.90.

About Sysco

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.