MQS Management LLC Cuts Stock Holdings in Sysco Co. (NYSE:SYY)

MQS Management LLC lowered its position in Sysco Co. (NYSE:SYY) by 4.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,472 shares of the company’s stock after selling 165 shares during the period. MQS Management LLC’s holdings in Sysco were worth $248,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SYY. TruNorth Capital Management LLC purchased a new stake in Sysco in the 2nd quarter valued at about $25,000. Burkett Financial Services LLC bought a new position in shares of Sysco in the fourth quarter valued at approximately $30,000. OFI Invest Asset Management purchased a new stake in shares of Sysco during the first quarter valued at approximately $31,000. Fairman Group LLC bought a new stake in Sysco during the fourth quarter worth $39,000. Finally, Livelsberger Financial Advisory purchased a new position in Sysco in the fourth quarter worth $44,000. 83.41% of the stock is owned by institutional investors.

Sysco Trading Up 1.4 %

NYSE:SYY opened at $75.19 on Friday. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The stock’s fifty day moving average price is $75.87 and its two-hundred day moving average price is $75.57. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. The company has a market cap of $37.44 billion, a P/E ratio of 18.34, a P/E/G ratio of 2.01 and a beta of 1.20.

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, topping analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $20.56 billion for the quarter, compared to analysts’ expectations 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 firm posted $1.34 EPS. As a group, analysts expect that Sysco Co. will post 4.6 EPS for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.71%. Sysco’s dividend payout ratio is currently 49.76%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SYY shares. Bank of America decreased their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. Barclays increased their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Truist Financial lowered their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Finally, Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, May 28th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.55.

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.