Savant Capital LLC Cuts Holdings in Sysco Co. (NYSE:SYY)

Savant Capital LLC decreased its position in Sysco Co. (NYSE:SYY) by 36.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,072 shares of the company’s stock after selling 4,569 shares during the period. Savant Capital LLC’s holdings in Sysco were worth $576,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. ORG Partners LLC lifted its holdings in Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after acquiring an additional 6,855 shares during the period. Bridgefront Capital LLC purchased a new position in shares of Sysco in the 4th quarter worth about $841,000. Nebula Research & Development LLC bought a new position in Sysco during the fourth quarter valued at about $916,000. Artisan Partners Limited Partnership increased its holdings in Sysco by 11.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 597,216 shares of the company’s stock worth $43,674,000 after buying an additional 62,556 shares during the last quarter. Finally, Mizuho Markets Americas LLC raised its position in Sysco by 102.1% in the first quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after acquiring an additional 70,660 shares during the period. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

SYY has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. BMO Capital Markets reduced their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Bank of America lowered their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Truist Financial cut their price target on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Finally, StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.27.

Sysco Trading Up 1.0 %

Shares of SYY opened at $76.97 on Friday. The business’s 50-day moving average price is $75.20 and its 200-day moving average price is $75.77. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The stock has a market cap of $38.33 billion, a PE ratio of 18.77, a P/E/G ratio of 2.05 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.01. The business had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.34 EPS. On average, equities analysts forecast that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.65%. The ex-dividend date is Friday, October 4th. Sysco’s payout ratio is 49.76%.

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.