Carret Asset Management LLC Sells 200 Shares of Sysco Co. (NYSE:SYY)

Carret Asset Management LLC decreased its position in shares of Sysco Co. (NYSE:SYY) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,786 shares of the company’s stock after selling 200 shares during the quarter. Carret Asset Management LLC’s holdings in Sysco were worth $1,444,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Professional Advisory Services Inc. bought a new stake in shares of Sysco during the fourth quarter valued at approximately $20,057,000. Harbour Trust & Investment Management Co purchased a new position in shares of Sysco during the fourth quarter valued at approximately $4,623,000. Pacer Advisors Inc. raised its position in Sysco by 40.1% in the 4th quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock valued at $6,014,000 after buying an additional 23,558 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sysco by 16.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock valued at $21,865,000 after buying an additional 41,618 shares during the last quarter. Finally, Bridgefront Capital LLC purchased a new stake in Sysco in the 4th quarter valued at $841,000. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Truist Financial lowered their price target on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Deutsche Bank Aktiengesellschaft lowered their price target on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Piper Sandler lowered their price target on 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 reduced 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, Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $84.90.

Sysco Stock Down 0.8 %

SYY stock opened at $70.05 on Thursday. The stock has a fifty day moving average of $73.66 and a 200-day moving average of $76.36. The company has a market capitalization of $34.88 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 1.90 and a beta of 1.18. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The firm had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter last year, the firm posted $0.90 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts predict that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.91%. This is a boost from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio (DPR) is currently 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.