Rathbones Group PLC Sells 6,954 Shares of Sysco Co. (NYSE:SYY)

Rathbones Group PLC lowered its stake in shares of Sysco Co. (NYSE:SYY) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,784 shares of the company’s stock after selling 6,954 shares during the quarter. Rathbones Group PLC’s holdings in Sysco were worth $12,978,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. ORG Partners LLC grew its stake in Sysco by 3,159.0% in the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after purchasing an additional 6,855 shares during the period. Bridgefront Capital LLC bought a new position in Sysco in the 4th quarter valued at $841,000. Nebula Research & Development LLC bought a new position in Sysco in the 4th quarter valued at $916,000. Artisan Partners Limited Partnership grew its stake in Sysco by 11.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 597,216 shares of the company’s stock valued at $43,674,000 after purchasing an additional 62,556 shares during the period. Finally, Mizuho Markets Americas LLC grew its stake in Sysco by 102.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock valued at $11,355,000 after purchasing an additional 70,660 shares during the period. Institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

SYY has been the subject of a number of recent analyst reports. Truist Financial reduced their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, June 24th. Deutsche Bank Aktiengesellschaft dropped their price target on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Barclays upped their price target on 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 Sysco from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. Finally, JPMorgan Chase & Co. dropped their price target on Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.27.

Sysco Stock Performance

Shares of SYY opened at $76.52 on Monday. The stock’s 50-day simple moving average is $75.34 and its 200 day simple moving average is $75.66. The stock has a market capitalization of $38.11 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 2.01 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 Co. has a 52-week low of $62.24 and a 52-week high of $82.89.

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. Research analysts forecast that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders 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 2.67%. Sysco’s dividend payout ratio is currently 49.76%.

Sysco 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.