City Holding Co. Has $1.63 Million Holdings in Sysco Co. (NYSE:SYY)

City Holding Co. decreased its holdings in Sysco Co. (NYSE:SYY) by 2.6% during the third quarter, Holdings Channel.com reports. The firm owned 20,878 shares of the company’s stock after selling 567 shares during the period. City Holding Co.’s holdings in Sysco were worth $1,630,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SYY. TruNorth Capital Management LLC purchased a new position in shares of Sysco during the 2nd quarter valued at $25,000. OFI Invest Asset Management acquired a new position in Sysco in the 1st quarter worth about $31,000. Fairscale Capital LLC purchased a new stake in shares of Sysco during the 2nd quarter worth about $38,000. Fairman Group LLC acquired a new stake in shares of Sysco during the 4th quarter valued at about $39,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Sysco in the 4th quarter valued at approximately $44,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SYY shares. Morgan Stanley reduced their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Jefferies Financial Group upped their price objective on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. increased 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 reduced their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, Truist Financial lowered 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. Two 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Price Performance

NYSE SYY opened at $75.32 on Wednesday. The stock has a 50-day simple moving average of $76.68 and a 200 day simple moving average of $75.22. Sysco Co. has a twelve month low of $62.40 and a twelve month high of $82.89. The stock has a market capitalization of $37.00 billion, a PE ratio of 18.37, a P/E/G ratio of 1.96 and a beta of 1.20. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.34 earnings per share. Research analysts anticipate that Sysco Co. will post 4.6 EPS 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 annualized dividend and a yield of 2.71%. Sysco’s dividend payout ratio is 49.76%.

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.