B. Riley Wealth Advisors Inc. Lowers Holdings in Sysco Co. (NYSE:SYY)

B. Riley Wealth Advisors Inc. reduced its stake in shares of Sysco Co. (NYSE:SYY) by 69.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 10,923 shares of the company’s stock after selling 25,045 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Sysco were worth $780,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Regal Investment Advisors LLC boosted its stake in shares of Sysco by 19.0% in the second quarter. Regal Investment Advisors LLC now owns 20,674 shares of the company’s stock worth $1,476,000 after buying an additional 3,300 shares during the last quarter. Quarry LP boosted its position in Sysco by 260.7% in the 2nd quarter. Quarry LP now owns 1,248 shares of the company’s stock worth $89,000 after purchasing an additional 902 shares in the last quarter. William B. Walkup & Associates Inc. acquired a new stake in shares of Sysco during the 2nd quarter worth approximately $1,199,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Sysco by 58.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 63,387 shares of the company’s stock valued at $4,525,000 after purchasing an additional 23,321 shares in the last quarter. Finally, SkyView Investment Advisors LLC lifted its stake in shares of Sysco by 13.6% in the 2nd quarter. SkyView Investment Advisors LLC now owns 8,064 shares of the company’s stock valued at $576,000 after purchasing an additional 966 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SYY. Morgan Stanley dropped their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Bank of America reduced their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. JPMorgan Chase & Co. raised their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Barclays lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $86.08.

Sysco Trading Down 0.3 %

Shares of SYY opened at $75.41 on Friday. The firm’s fifty day moving average is $76.65 and its two-hundred day moving average is $75.35. The stock has a market cap of $37.07 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. 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 52-week low of $62.24 and a 52-week high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings data 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. The company had revenue of $20.56 billion during 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%. Sysco’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.34 EPS. Research analysts forecast that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business 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 $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.71%. Sysco’s dividend payout ratio is presently 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.