Franklin Street Advisors Inc. NC Has $217,000 Stock Holdings in Sysco Co. (NYSE:SYY)

Franklin Street Advisors Inc. NC lowered its stake in shares of Sysco Co. (NYSE:SYYGet Rating) by 81.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,559 shares of the company’s stock after selling 11,435 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Sysco were worth $217,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in Sysco during the fourth quarter worth $356,291,000. Wellington Management Group LLP boosted its stake in Sysco by 11.1% during the first quarter. Wellington Management Group LLP now owns 35,539,582 shares of the company’s stock worth $2,901,806,000 after buying an additional 3,536,646 shares in the last quarter. CFS Investment Advisory Services LLC boosted its stake in Sysco by 8,046.2% during the first 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. BlackRock Inc. boosted its stake in Sysco by 5.6% during the fourth quarter. BlackRock Inc. now owns 31,519,868 shares of the company’s stock worth $2,475,887,000 after buying an additional 1,677,431 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Sysco by 1,494.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,195,433 shares of the company’s stock worth $99,233,000 after buying an additional 1,120,437 shares in the last quarter. Institutional investors own 82.43% of the company’s stock.

Analysts Set New Price Targets

SYY has been the topic of a number of recent research reports. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 14th. Truist Financial reduced their target price on shares of Sysco from $98.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. Barclays reduced their target price on shares of Sysco to $100.00 in a research note on Monday, August 15th. Credit Suisse Group reduced their target price on shares of Sysco from $107.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 10th. Finally, JPMorgan Chase & Co. upgraded shares of Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 price target on the stock in a research report on Thursday, May 26th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Sysco presently has an average rating of “Moderate Buy” and an average target price of $94.13.

Sysco Price Performance

NYSE SYY opened at $78.45 on Thursday. Sysco Co. has a 52-week low of $68.05 and a 52-week high of $91.53. The company has a debt-to-equity ratio of 7.28, a quick ratio of 0.69 and a current ratio of 1.20. The business has a 50 day simple moving average of $84.17 and a 200 day simple moving average of $83.51. The stock has a market cap of $39.70 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 2.10 and a beta of 1.01.

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 analysts’ consensus estimates 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 the consensus estimate of $18.29 billion. During the same quarter in the prior year, the firm posted $0.71 EPS. The business’s revenue was up 17.5% on a year-over-year basis. Analysts anticipate that Sysco Co. will post 4.2 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Thursday, October 6th. Sysco’s payout ratio is presently 74.24%.

Sysco Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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