Royal London Asset Management Ltd. Has $22.31 Million Stake in Sysco Co. (NYSE:SYY)

Royal London Asset Management Ltd. lowered its holdings in Sysco Co. (NYSE:SYY) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 312,554 shares of the company’s stock after selling 1,917 shares during the quarter. Royal London Asset Management Ltd. owned about 0.06% of Sysco worth $22,313,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in SYY. ORG Partners LLC boosted its stake in shares of 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 last quarter. Bridgefront Capital LLC acquired a new stake in Sysco during the 4th quarter worth $841,000. Nebula Research & Development LLC bought a new stake in shares of Sysco during the 4th quarter valued at $916,000. Artisan Partners Limited Partnership raised its position in shares of Sysco by 11.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 597,216 shares of the company’s stock valued at $43,674,000 after acquiring an additional 62,556 shares during the last quarter. Finally, Mizuho Markets Americas LLC boosted its position in shares of Sysco by 102.1% in the 1st quarter. Mizuho Markets Americas LLC now owns 139,875 shares of the company’s stock worth $11,355,000 after purchasing an additional 70,660 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Down 2.9 %

Shares of SYY stock opened at $76.21 on Thursday. The firm’s 50-day moving average is $75.07 and its 200-day moving average is $75.76. The stock has a market cap of $37.95 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 2.05 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 announced its earnings results on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.38 by $0.01. The business had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. Sysco’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.34 EPS. Sell-side analysts predict that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.68%. Sysco’s payout ratio is presently 49.76%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Bank of America decreased their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. BMO Capital Markets dropped their target price on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Truist Financial reduced their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. Finally, Barclays raised their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.27.

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.