Transatlantique Private Wealth LLC Trims Stake in Sysco Co. (NYSE:SYY)

Transatlantique Private Wealth LLC cut its position in shares of Sysco Co. (NYSE:SYY) by 32.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,817 shares of the company’s stock after selling 3,347 shares during the period. Transatlantique Private Wealth LLC’s holdings in Sysco were worth $487,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. TruNorth Capital Management LLC bought a new stake in Sysco in the second quarter worth about $25,000. Burkett Financial Services LLC bought a new stake in shares of Sysco during the 4th quarter worth approximately $30,000. OFI Invest Asset Management purchased a new position in Sysco during the 1st quarter valued at $31,000. Fairman Group LLC bought a new position in Sysco in the 4th quarter valued at $39,000. Finally, Livelsberger Financial Advisory purchased a new stake in Sysco in the fourth quarter worth $44,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Price Performance

Shares of SYY opened at $75.19 on Friday. The stock has a market capitalization of $37.44 billion, a PE ratio of 18.34, a PEG ratio of 2.01 and a beta of 1.20. The company has a 50 day moving average price of $75.87 and a 200-day moving average price of $75.57. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last posted its 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. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The company had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities analysts predict that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.71%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio is currently 49.76%.

Analyst Ratings Changes

A number of analysts have recently issued reports on SYY shares. JPMorgan Chase & Co. boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, May 28th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Bank of America decreased their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Morgan Stanley lowered their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and an average target price of $85.55.

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.