Sysco Co. (NYSE:SYY) Shares Sold by Canandaigua National Corp

Canandaigua National Corp trimmed its stake in shares of Sysco Co. (NYSE:SYYGet Rating) by 21.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,424 shares of the company’s stock after selling 1,800 shares during the quarter. Canandaigua National Corp’s holdings in Sysco were worth $544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SYY. Norges Bank acquired a new stake in Sysco during the 4th quarter worth approximately $356,291,000. Wellington Management Group LLP lifted its position in Sysco by 11.1% during the 1st quarter. Wellington Management Group LLP now owns 35,539,582 shares of the company’s stock worth $2,901,806,000 after acquiring an additional 3,536,646 shares during the period. CFS Investment Advisory Services LLC lifted its position in 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 acquiring an additional 2,024,741 shares during the period. BlackRock Inc. lifted its position in Sysco by 5.6% during the 4th quarter. BlackRock Inc. now owns 31,519,868 shares of the company’s stock worth $2,475,887,000 after acquiring an additional 1,677,431 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in Sysco by 1,494.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,195,433 shares of the company’s stock worth $99,233,000 after acquiring an additional 1,120,437 shares during the period. 82.43% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

NYSE SYY opened at $79.79 on Tuesday. Sysco Co. has a 1-year low of $68.05 and a 1-year high of $91.53. The company has a market capitalization of $40.38 billion, a P/E ratio of 30.22, a PEG ratio of 2.07 and a beta of 1.01. The business has a 50 day moving average price of $84.60 and a 200 day moving average price of $83.61. The company has a debt-to-equity ratio of 7.28, a current ratio of 1.20 and a quick ratio of 0.69.

Sysco (NYSE:SYYGet Rating) last released its quarterly earnings results on Tuesday, August 9th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.03. The company had revenue of $18.96 billion during the quarter, compared to the consensus estimate of $18.29 billion. Sysco had a return on equity of 119.55% and a net margin of 1.98%. Sysco’s revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 earnings per share. Sell-side analysts expect that Sysco Co. will post 4.2 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders 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 yield of 2.46%. The ex-dividend date is Thursday, October 6th. Sysco’s payout ratio is 74.24%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 14th. Barclays reduced their price target on Sysco to $100.00 in a report on Monday, August 15th. Credit Suisse Group reduced their price target on Sysco from $107.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, August 10th. Truist Financial reduced their price target on Sysco from $98.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. Finally, JPMorgan Chase & Co. raised Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 price target for the company in a report on Thursday, May 26th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and an average price target of $94.13.

Sysco Company Profile

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Co. (NYSE:SYYGet Rating).

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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.