Sysco Co. (NYSE:SYY) Holdings Decreased by Jacobs & Co. CA

Jacobs & Co. CA reduced its position in shares of Sysco Co. (NYSE:SYY) by 0.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,787 shares of the company’s stock after selling 310 shares during the period. Jacobs & Co. CA’s holdings in Sysco were worth $9,739,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SYY. Parvin Asset Management LLC acquired a new stake in shares of Sysco during the fourth quarter worth $29,000. Stonebridge Financial Group LLC acquired a new stake in Sysco during the fourth quarter worth about $31,000. Sherman Asset Management Inc. bought a new position in Sysco in the fourth quarter worth about $31,000. Flagship Wealth Advisors LLC acquired a new position in Sysco in the fourth quarter valued at approximately $31,000. Finally, SRS Capital Advisors Inc. boosted its stake in Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after acquiring an additional 149 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Activity

In other Sysco news, Director Sheila Talton sold 356 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the sale, the director now owns 12,738 shares in the company, valued at approximately $902,359.92. The trade was a 2.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. UBS Group dropped their price target on Sysco from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Truist Financial dropped their target price on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. upped their target price on shares of Sysco from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 20th. BMO Capital Markets lowered their price target on Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Finally, Sanford C. Bernstein set a $87.00 price objective on shares of Sysco and gave the stock an “overweight” rating in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Sysco Stock Down 1.0%

NYSE SYY opened at $71.52 on Thursday. Sysco Co. has a 12 month low of $67.12 and a 12 month high of $82.23. The company has a market capitalization of $34.67 billion, a P/E ratio of 18.39, a PEG ratio of 1.88 and a beta of 0.80. The company’s 50 day simple moving average is $71.67 and its 200 day simple moving average is $73.84. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a return on equity of 106.30% and a net margin of 2.40%. The business had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. During the same quarter last year, the firm posted $0.96 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities research analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This is a positive change from Sysco’s previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.02%. Sysco’s payout ratio is 55.96%.

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.