Vontobel Holding Ltd. Has $3.91 Million Stake in Sysco Co. (NYSE:SYY)

Vontobel Holding Ltd. raised its holdings in Sysco Co. (NYSE:SYY) by 0.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,126 shares of the company’s stock after purchasing an additional 218 shares during the period. Vontobel Holding Ltd.’s holdings in Sysco were worth $3,913,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. ORG Partners LLC grew its position in Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock worth $495,000 after buying an additional 6,855 shares in the last quarter. Mizuho Markets Americas LLC grew its holdings in shares of Sysco by 102.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after purchasing an additional 70,660 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of Sysco by 11.6% in the second quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock worth $12,577,000 after purchasing an additional 18,296 shares during the period. Diversify Advisory Services LLC acquired a new position in Sysco in the first quarter valued at about $1,677,000. Finally, Shell Asset Management Co. lifted its position in Sysco by 205.0% during the first quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock worth $1,161,000 after purchasing an additional 9,615 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

NYSE:SYY opened at $75.54 on Friday. The stock’s 50-day moving average is $76.55 and its 200-day moving average is $74.92. Sysco Co. has a 1-year low of $64.28 and a 1-year high of $82.89. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The stock has a market cap of $37.11 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.96 and a beta of 1.20.

Sysco (NYSE:SYY) last announced its quarterly 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. The firm 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%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.34 EPS. Equities research analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a $0.51 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.70%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Analysts Set New Price Targets

Several equities analysts have commented on SYY shares. JPMorgan Chase & Co. raised their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Truist Financial lowered their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Jefferies Financial Group upped their target price on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Barclays lifted their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average 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.