Sysco Co. (NYSE:SYY) Shares Sold by Xponance Inc.

Xponance Inc. cut its stake in Sysco Co. (NYSE:SYY) by 14.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,636 shares of the company’s stock after selling 17,180 shares during the period. Xponance Inc.’s holdings in Sysco were worth $7,113,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Capital World Investors increased its holdings in shares of 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 during the period. Capital Research Global Investors increased its holdings in shares of Sysco by 112.8% during the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after purchasing an additional 3,504,740 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in shares of Sysco by 49.8% during the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after purchasing an additional 1,997,895 shares during the period. ProShare Advisors LLC increased its holdings in shares of Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after purchasing an additional 2,408,226 shares during the period. Finally, Primecap Management Co. CA increased its holdings in shares of Sysco by 37.5% during the second quarter. Primecap Management Co. CA now owns 4,373,485 shares of the company’s stock valued at $312,223,000 after purchasing an additional 1,192,650 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Trading Up 1.3 %

Shares of SYY stock opened at $76.17 on Tuesday. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The company has a market cap of $37.93 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20. The business’s 50 day moving average is $75.96 and its two-hundred day moving average is $75.50.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 102.09% and a net margin of 2.48%. Sysco’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.34 earnings per share. Equities analysts predict that Sysco Co. will post 4.6 EPS for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a dividend of $0.51 per share. 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 2.68%. Sysco’s payout ratio is 49.76%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SYY shares. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Truist Financial decreased their target price on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Morgan Stanley decreased their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Barclays raised their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Tuesday, May 28th. Two equities research 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 company’s stock. According to data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average price target 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.