Sysco Co. (NYSE:SYY) is Meyer Handelman Co.’s 9th Largest Position

Meyer Handelman Co. decreased its stake in Sysco Co. (NYSE:SYYGet Rating) by 0.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 586,194 shares of the company’s stock after selling 1,700 shares during the quarter. Sysco comprises approximately 2.1% of Meyer Handelman Co.’s portfolio, making the stock its 9th largest position. Meyer Handelman Co.’s holdings in Sysco were worth $49,657,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. CFS Investment Advisory Services LLC raised its position in shares of 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 purchasing an additional 2,024,741 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Sysco during the first quarter worth $29,000. DeDora Capital Inc. purchased a new stake in shares of Sysco during the first quarter worth $31,000. Column Capital Advisors LLC raised its holdings in shares of Sysco by 4,900.0% during the first quarter. Column Capital Advisors LLC now owns 400 shares of the company’s stock worth $33,000 after acquiring an additional 392 shares in the last quarter. Finally, Mascoma Wealth Management LLC raised its holdings in Sysco by 80.0% during the first quarter. Mascoma Wealth Management LLC now owns 414 shares of the company’s stock valued at $34,000 after buying an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 82.43% of the company’s stock.

Sysco Stock Performance

SYY stock traded down $2.14 during mid-day trading on Friday, hitting $75.24. The company had a trading volume of 39,410 shares, compared to its average volume of 1,773,847. The stock’s fifty day moving average price is $83.98 and its two-hundred day moving average price is $83.51. Sysco Co. has a 12 month low of $68.05 and a 12 month 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 firm has a market cap of $38.08 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 2.07 and a beta of 1.01.

Sysco (NYSE:SYYGet Rating) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.12 by $0.03. Sysco had a net margin of 1.98% and a return on equity of 119.55%. The company had revenue of $18.96 billion during the quarter, compared to analysts’ expectations of $18.29 billion. During the same quarter in the previous year, the company earned $0.71 earnings per share. Sysco’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, analysts forecast 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. Shareholders of record on Friday, October 7th will be issued a $0.49 dividend. The ex-dividend date is Thursday, October 6th. This represents a $1.96 annualized dividend and a yield of 2.60%. Sysco’s dividend payout ratio (DPR) is presently 74.24%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Stephens assumed coverage on Sysco in a research report on Thursday. They issued an “overweight” rating and a $90.00 price target on the stock. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 14th. Credit Suisse Group dropped their price objective on shares of Sysco from $107.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, August 10th. Truist Financial lowered their target price on shares of 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 shares of 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 research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $93.67.

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.

Further Reading

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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