Calamos Advisors LLC Sells 5,978 Shares of Sysco Co. (NYSE:SYY)

Calamos Advisors LLC trimmed its stake in Sysco Co. (NYSE:SYY) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,790 shares of the company’s stock after selling 5,978 shares during the period. Calamos Advisors LLC’s holdings in Sysco were worth $11,693,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SYY. Federated Hermes Inc. grew its stake in shares of Sysco by 8.3% in the 4th quarter. Federated Hermes Inc. now owns 52,383 shares of the company’s stock valued at $3,831,000 after purchasing an additional 4,035 shares during the period. Atria Wealth Solutions Inc. grew its position in Sysco by 15.8% in the fourth quarter. Atria Wealth Solutions Inc. now owns 52,560 shares of the company’s stock valued at $3,844,000 after acquiring an additional 7,156 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in Sysco by 4.0% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 18,872 shares of the company’s stock valued at $1,380,000 after acquiring an additional 720 shares during the period. Syon Capital LLC raised its stake in Sysco by 24.2% during the fourth quarter. Syon Capital LLC now owns 7,505 shares of the company’s stock worth $549,000 after acquiring an additional 1,464 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in shares of Sysco by 14.5% during the fourth quarter. Citizens Financial Group Inc. RI now owns 8,470 shares of the company’s stock valued at $619,000 after acquiring an additional 1,070 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Down 0.5 %

Sysco stock opened at $77.16 on Monday. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The firm has a market capitalization of $38.42 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 2.00 and a beta of 1.18. The company’s 50 day simple moving average is $73.65 and its 200 day simple moving average is $75.90.

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

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SYY. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. BMO Capital Markets reduced their target price on Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Truist Financial dropped their price target on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. JPMorgan Chase & Co. reduced their price objective on Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Finally, UBS Group lowered their target price on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $85.27.

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.