Zions Bancorporation N.A. Trims Stake in Sysco Co. (NYSE:SYY)

Zions Bancorporation N.A. decreased its stake in shares of Sysco Co. (NYSE:SYY) by 11.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,536 shares of the company’s stock after selling 192 shares during the period. Zions Bancorporation N.A.’s holdings in Sysco were worth $110,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Meeder Advisory Services Inc. increased its position in Sysco by 17.5% during the 2nd quarter. Meeder Advisory Services Inc. now owns 9,827 shares of the company’s stock worth $702,000 after purchasing an additional 1,465 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Sysco by 2.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 47,385 shares of the company’s stock worth $3,383,000 after purchasing an additional 1,063 shares during the last quarter. Vest Financial LLC grew its holdings in shares of Sysco by 15.5% during the second quarter. Vest Financial LLC now owns 574,040 shares of the company’s stock worth $40,981,000 after buying an additional 77,181 shares in the last quarter. Achmea Investment Management B.V. raised its position in shares of Sysco by 66.1% in the second quarter. Achmea Investment Management B.V. now owns 71,970 shares of the company’s stock valued at $5,138,000 after buying an additional 28,643 shares during the last quarter. Finally, Qsemble Capital Management LP lifted its stake in shares of Sysco by 49.5% during the second quarter. Qsemble Capital Management LP now owns 20,576 shares of the company’s stock valued at $1,469,000 after buying an additional 6,812 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Down 0.6 %

Shares of NYSE SYY opened at $76.52 on Monday. The stock has a fifty day moving average price of $75.34 and a 200 day moving average price of $75.66. The company has a market cap of $37.61 billion, a P/E ratio of 18.66, a P/E/G ratio of 2.01 and a beta of 1.20. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19.

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

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s payout ratio is 49.76%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SYY. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Truist Financial dropped their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Bank of America decreased their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, BMO Capital Markets dropped their price target on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus 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.