Marble Harbor Investment Counsel LLC Sells 355 Shares of Sysco Co. (NYSE:SYY)

Marble Harbor Investment Counsel LLC trimmed its position in shares of Sysco Co. (NYSE:SYY) by 4.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 8,180 shares of the company’s stock after selling 355 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in Sysco were worth $584,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYY. TruNorth Capital Management LLC bought a new stake in shares of Sysco during the second quarter worth $25,000. Verity & Verity LLC bought a new stake in Sysco during the 1st quarter worth about $26,000. Burkett Financial Services LLC acquired a new stake in Sysco in the 4th quarter valued at about $30,000. OFI Invest Asset Management bought a new position in shares of Sysco in the first quarter worth about $31,000. Finally, Fairman Group LLC bought a new stake in shares of Sysco during the fourth quarter valued at approximately $39,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of SYY stock opened at $76.52 on Monday. The company has a fifty day moving average price of $75.34 and a two-hundred day moving average price of $75.66. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The stock has a market cap of $38.11 billion, a P/E ratio of 18.66, a P/E/G ratio of 2.01 and a beta of 1.20. 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 (NYSE:SYY) last posted 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. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. During the same quarter last year, the company posted $1.34 earnings per share. Sysco’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities analysts predict that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given 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 2.67%. Sysco’s dividend payout ratio (DPR) is presently 49.76%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SYY shares. BMO Capital Markets decreased their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Truist Financial lowered their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Barclays upped 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. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Finally, Bank of America dropped their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Two investment 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, Sysco has an average rating of “Moderate Buy” and a consensus target price of $85.27.

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.