CX Institutional Has $1.10 Million Stock Holdings in Sysco Co. (NYSE:SYY)

CX Institutional trimmed its stake in shares of Sysco Co. (NYSE:SYY) by 70.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,033 shares of the company’s stock after selling 33,752 shares during the quarter. CX Institutional’s holdings in Sysco were worth $1,095,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Grove Bank & Trust boosted its holdings in Sysco by 50.3% during the third quarter. Grove Bank & Trust now owns 8,910 shares of the company’s stock valued at $696,000 after purchasing an additional 2,981 shares in the last quarter. Fiduciary Alliance LLC acquired a new stake in Sysco during the third quarter valued at approximately $232,000. ORG Wealth Partners LLC acquired a new stake in Sysco during the third quarter valued at approximately $251,000. Paladin Wealth LLC acquired a new stake in Sysco during the third quarter valued at approximately $155,000. Finally, Woodstock Corp boosted its holdings in Sysco by 0.9% during the third quarter. Woodstock Corp now owns 77,595 shares of the company’s stock valued at $6,057,000 after purchasing an additional 660 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Up 0.3 %

NYSE:SYY opened at $75.77 on Thursday. The stock’s fifty day moving average price is $76.56 and its two-hundred day moving average price is $74.96. Sysco Co. has a 52-week low of $64.16 and a 52-week high of $82.89. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The company has a market cap of $37.73 billion, a price-to-earnings ratio of 18.48, a P/E/G ratio of 1.92 and a beta of 1.20.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The company 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 firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.34 EPS. On average, analysts anticipate that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

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 paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is currently 49.76%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SYY shares. Barclays lifted 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 Wednesday, July 31st. Truist Financial cut their target price 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. JPMorgan Chase & Co. lifted 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. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Bank of America cut their target price 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. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Sysco has an average rating of “Moderate Buy” and a consensus target price of $86.08.

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.