Summit Place Financial Advisors LLC Trims Stake in Sysco Co. (NYSE:SYY)

Summit Place Financial Advisors LLC lessened its holdings in shares of Sysco Co. (NYSE:SYY) by 17.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,950 shares of the company’s stock after selling 1,300 shares during the quarter. Summit Place Financial Advisors LLC’s holdings in Sysco were worth $464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. ORG Partners LLC lifted its position in shares of Sysco by 3,159.0% during the 2nd quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after buying an additional 6,855 shares in the last quarter. Mizuho Markets Americas LLC lifted its holdings in Sysco by 102.1% during the first 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 in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Sysco by 11.6% in the second quarter. Wedge Capital Management L L P NC now owns 176,170 shares of the company’s stock worth $12,577,000 after purchasing an additional 18,296 shares during the period. Diversify Advisory Services LLC purchased a new stake in shares of Sysco in the first quarter worth $1,677,000. Finally, Shell Asset Management Co. raised its position in shares of Sysco by 205.0% during the 1st quarter. Shell Asset Management Co. now owns 14,305 shares of the company’s stock valued at $1,161,000 after purchasing an additional 9,615 shares during the period. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

SYY has been the subject of a number of recent analyst reports. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. upped their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Bank of America reduced their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Barclays upped their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley reduced their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $86.08.

Sysco Stock Down 0.6 %

NYSE:SYY opened at $73.92 on Monday. The company’s 50-day simple moving average is $76.42 and its 200-day simple moving average is $74.77. 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 fifty-two week low of $64.28 and a fifty-two week high of $82.89. The stock has a market capitalization of $36.31 billion, a P/E ratio of 19.00, a P/E/G ratio of 1.93 and a beta of 1.20.

Sysco (NYSE:SYY) last issued its quarterly earnings results 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. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. During the same period in the prior year, the firm posted $1.34 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 4th were issued a dividend of $0.51 per share. The ex-dividend date was Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.76%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

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.