J.W. Cole Advisors Inc. lessened its position in shares of Sysco Co. (NYSE:SYY – Get Rating) by 54.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 6,043 shares of the company’s stock after selling 7,217 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Sysco were worth $493,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brasada Capital Management LP increased its position in Sysco by 18.3% during the 1st quarter. Brasada Capital Management LP now owns 37,183 shares of the company’s stock valued at $3,036,000 after purchasing an additional 5,745 shares during the period. Bank of America Corp DE increased its position in Sysco by 4.0% during the 1st quarter. Bank of America Corp DE now owns 4,474,864 shares of the company’s stock valued at $365,373,000 after purchasing an additional 170,288 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Sysco by 12.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,439 shares of the company’s stock valued at $7,711,000 after purchasing an additional 10,210 shares during the period. CFS Investment Advisory Services LLC boosted its holdings in shares of Sysco by 8,046.2% during the 1st quarter. CFS Investment Advisory Services LLC now owns 2,049,905 shares of the company’s stock worth $25,000 after buying an additional 2,024,741 shares in the last quarter. Finally, L.M. Kohn & Company bought a new position in shares of Sysco during the 1st quarter worth approximately $595,000. Institutional investors and hedge funds own 82.43% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on SYY shares. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 14th. Truist Financial cut their price target on Sysco from $98.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. Credit Suisse Group cut their price target on Sysco from $107.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, August 10th. JPMorgan Chase & Co. upgraded Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 price target on the stock in a report on Thursday, May 26th. Finally, Barclays cut their target price on Sysco to $100.00 in a report on Monday, August 15th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $94.13.
Sysco Price Performance
Sysco (NYSE:SYY – Get Rating) last announced its earnings results on Tuesday, August 9th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.03. Sysco had a return on equity of 119.55% and a net margin of 1.98%. The firm had revenue of $18.96 billion during the quarter, compared to analyst estimates of $18.29 billion. During the same period last year, the firm posted $0.71 EPS. The business’s revenue was up 17.5% compared to the same quarter last year. As a group, analysts forecast that Sysco Co. will post 4.2 EPS for the current fiscal year.
Sysco Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, October 6th. Sysco’s dividend payout ratio is presently 74.24%.
Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.
- Get a free copy of the StockNews.com research report on Sysco (SYY)
- Oracle’s Short-Term Pain Could Be Your Long-Term Gain
- Lucid is Looking Like a Clear EV Winner
- Still Lovin’ It: Investors Keep Visiting McDonald’s
- Did FedEx Just Deliver A Buying Opportunity?
- Autozone Shifts Back Into Rally-Mode, New Highs Are In Sight
Receive News & Ratings for Sysco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco and related companies with MarketBeat.com's FREE daily email newsletter.