Thrivent Financial for Lutherans Has $110.52 Million Position in Sysco Co. (NYSE:SYY)

Thrivent Financial for Lutherans reduced its stake in Sysco Co. (NYSE:SYY) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,548,041 shares of the company’s stock after selling 15,207 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Sysco were worth $110,515,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SYY. Accretive Wealth Partners LLC raised its stake in Sysco by 1.0% during the fourth quarter. Accretive Wealth Partners LLC now owns 21,788 shares of the company’s stock worth $1,593,000 after buying an additional 212 shares during the last quarter. Gryphon Financial Partners LLC grew its holdings in Sysco by 55.0% in the fourth quarter. Gryphon Financial Partners LLC now owns 4,817 shares of the company’s stock worth $352,000 after purchasing an additional 1,710 shares during the period. Gladstone Institutional Advisory LLC raised its holdings in shares of Sysco by 10.6% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 4,429 shares of the company’s stock valued at $324,000 after purchasing an additional 425 shares during the period. Franklin Resources Inc. boosted its position in shares of Sysco by 28.3% during the 4th quarter. Franklin Resources Inc. now owns 424,407 shares of the company’s stock worth $31,037,000 after purchasing an additional 93,628 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Sysco by 8.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,824 shares of the company’s stock worth $133,000 after buying an additional 142 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the topic of several research reports. Bank of America lowered their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. JPMorgan Chase & Co. lifted their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Guggenheim upgraded shares of 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. Finally, Truist Financial dropped their target price on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $85.55.

Sysco Stock Up 1.4 %

SYY opened at $75.19 on Friday. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The firm has a market capitalization of $37.44 billion, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20. The company has a fifty day moving average price of $75.87 and a 200-day moving average price of $75.57.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. During the same period in the prior year, the company earned $1.34 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities research analysts expect 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. Investors 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 dividend on an annualized basis and a yield of 2.71%. Sysco’s dividend payout ratio is presently 49.76%.

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.