Cyndeo Wealth Partners LLC Sells 140 Shares of Sysco Co. (NYSE:SYY)

Cyndeo Wealth Partners LLC lowered its holdings in shares of Sysco Co. (NYSE:SYY) by 4.0% during the third quarter, Holdings Channel reports. The firm owned 3,362 shares of the company’s stock after selling 140 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Sysco were worth $262,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SYY. Capital Research Global Investors raised its holdings in 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 buying an additional 3,504,740 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Sysco by 103.0% in the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after acquiring an additional 2,408,226 shares in the last quarter. Swedbank AB acquired a new stake in Sysco in the 1st quarter worth approximately $178,824,000. Diamond Hill Capital Management Inc. boosted its position in Sysco by 49.8% during the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after purchasing an additional 1,997,895 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Sysco by 26.1% during the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after purchasing an additional 1,782,180 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Trading Down 1.1 %

Shares of SYY stock opened at $74.71 on Tuesday. The company has a market capitalization of $36.70 billion, a P/E ratio of 19.21, 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 Co. has a 12-month low of $64.28 and a 12-month high of $82.89. The firm has a 50-day moving average price of $76.54 and a 200 day moving average price of $74.84.

Sysco (NYSE:SYY) last issued 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. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The firm had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. During the same quarter in the previous year, the company posted $1.34 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts forecast that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.73%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Analyst Ratings Changes

A number of analysts have recently weighed in on SYY shares. Jefferies Financial Group boosted their price objective on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Bank of America decreased their price target 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. Morgan Stanley cut their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Finally, StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.