Mutual of America Capital Management LLC Sells 2,450 Shares of Sysco Co. (NYSE:SYY)

Mutual of America Capital Management LLC decreased its stake in Sysco Co. (NYSE:SYY) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,860 shares of the company’s stock after selling 2,450 shares during the period. Mutual of America Capital Management LLC’s holdings in Sysco were worth $4,488,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital World Investors raised its position in Sysco by 17.5% during the first quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock valued at $891,758,000 after purchasing an additional 1,637,232 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after buying an additional 3,504,740 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in Sysco by 49.8% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after buying an additional 1,997,895 shares during the last quarter. Primecap Management Co. CA boosted its stake in Sysco by 37.5% in the second quarter. Primecap Management Co. CA now owns 4,373,485 shares of the company’s stock worth $312,223,000 after buying an additional 1,192,650 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Sysco by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,701,385 shares of the company’s stock valued at $264,262,000 after acquiring an additional 359,640 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SYY shares. Morgan Stanley cut their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. JPMorgan Chase & Co. upped their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Barclays lifted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Truist Financial dropped their target price on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. Finally, Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Tuesday, May 28th. Two investment 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.55.

Sysco Stock Performance

Shares of SYY opened at $75.19 on Friday. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The company has a 50-day simple moving average of $75.87 and a two-hundred day simple moving average of $75.55. 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 $37.44 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20.

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

Sysco Dividend Announcement

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

About Sysco

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.