Sysco Co. (NYSE:SYY) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC reduced its position in Sysco Co. (NYSE:SYY) by 25.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,640 shares of the company’s stock after selling 2,890 shares during the period. Park Avenue Securities LLC’s holdings in Sysco were worth $674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SYY. TruNorth Capital Management LLC purchased a new stake in Sysco in the 2nd quarter worth $25,000. OFI Invest Asset Management acquired a new position in Sysco in the first quarter valued at about $31,000. Fairscale Capital LLC acquired a new position in Sysco in the second quarter valued at about $38,000. Fairman Group LLC acquired a new position in Sysco in the fourth quarter valued at about $39,000. Finally, Livelsberger Financial Advisory acquired a new position in Sysco in the fourth quarter valued at about $44,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SYY has been the topic of several research reports. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Truist Financial dropped their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Morgan Stanley lowered their target price on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Bank of America decreased their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Finally, Jefferies Financial Group increased their price target on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.08.

Sysco Trading Down 1.1 %

Shares of SYY stock opened at $73.80 on Friday. Sysco Co. has a fifty-two week low of $62.45 and a fifty-two week high of $82.89. The stock has a market cap of $36.25 billion, a P/E ratio of 18.00, a P/E/G ratio of 1.96 and a beta of 1.20. The business has a fifty day simple moving average of $76.61 and a 200-day simple moving average of $75.17. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.34 EPS. On average, analysts forecast that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.76%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is 49.76%.

About Sysco

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.