Brown Lisle Cummings Inc. Sells 475 Shares of Sysco Co. (NYSE:SYY)

Brown Lisle Cummings Inc. lessened its stake in shares of Sysco Co. (NYSE:SYY) by 1.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 26,623 shares of the company’s stock after selling 475 shares during the period. Brown Lisle Cummings Inc.’s holdings in Sysco were worth $2,078,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SYY. Columbus Macro LLC boosted its stake in shares of Sysco by 6.1% in the third quarter. Columbus Macro LLC now owns 26,048 shares of the company’s stock worth $2,012,000 after acquiring an additional 1,509 shares during the period. Vest Financial LLC grew its holdings in Sysco by 18.0% during the 3rd quarter. Vest Financial LLC now owns 677,256 shares of the company’s stock valued at $52,867,000 after buying an additional 103,216 shares in the last quarter. Buckley Wealth Management LLC grew its holdings in Sysco by 9.1% during the 3rd quarter. Buckley Wealth Management LLC now owns 18,038 shares of the company’s stock valued at $1,408,000 after buying an additional 1,500 shares in the last quarter. OLD National Bancorp IN raised its position in shares of Sysco by 13.6% during the third quarter. OLD National Bancorp IN now owns 28,053 shares of the company’s stock valued at $2,190,000 after buying an additional 3,367 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI lifted its holdings in shares of Sysco by 2.0% in the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 264,228 shares of the company’s stock worth $20,626,000 after buying an additional 5,254 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

SYY has been the topic of several research reports. Jefferies Financial Group lifted their target price on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Truist Financial decreased their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. 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 report on Thursday, July 18th. Barclays upped 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Stock Performance

NYSE SYY opened at $75.54 on Monday. The business’s 50-day moving average price is $76.55 and its 200 day moving average price is $74.85. Sysco Co. has a 52-week low of $64.28 and a 52-week high of $82.89. The firm has a market cap of $37.11 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.97 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 (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 analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.34 EPS. On average, equities research analysts expect that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued 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 2.70%. Sysco’s payout ratio is 52.44%.

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.