US Bancorp DE lessened its holdings in shares of SYSCO Co. (NYSE:SYY) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 305,329 shares of the company’s stock after selling 5,224 shares during the quarter. US Bancorp DE owned about 0.06% of SYSCO worth $21,594,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. ETRADE Capital Management LLC boosted its position in shares of SYSCO by 110.6% during the 2nd quarter. ETRADE Capital Management LLC now owns 16,108 shares of the company’s stock valued at $1,139,000 after acquiring an additional 8,461 shares during the last quarter. Accredited Investors Inc. bought a new stake in shares of SYSCO during the 2nd quarter valued at about $209,000. AXA boosted its position in shares of SYSCO by 3.8% during the 2nd quarter. AXA now owns 519,580 shares of the company’s stock valued at $36,745,000 after acquiring an additional 18,848 shares during the last quarter. United Capital Financial Advisers LLC boosted its position in shares of SYSCO by 8.8% during the 2nd quarter. United Capital Financial Advisers LLC now owns 23,042 shares of the company’s stock valued at $1,630,000 after acquiring an additional 1,871 shares during the last quarter. Finally, Profund Advisors LLC boosted its position in shares of SYSCO by 18.6% during the 2nd quarter. Profund Advisors LLC now owns 15,658 shares of the company’s stock valued at $1,107,000 after acquiring an additional 2,451 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.
Shares of NYSE SYY traded up $0.56 during mid-day trading on Friday, hitting $78.28. 1,982,966 shares of the stock traded hands, compared to its average volume of 2,689,388. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.81 and a current ratio of 1.33. SYSCO Co. has a 52 week low of $59.44 and a 52 week high of $78.40. The company has a market cap of $39.88 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 2.16 and a beta of 0.48. The stock has a fifty day moving average price of $72.55 and a 200-day moving average price of $70.73.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, October 3rd. SYSCO’s dividend payout ratio (DPR) is 43.94%.
In other SYSCO news, Director Hans-Joachim Koerber sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $73.35, for a total value of $733,500.00. Following the sale, the director now directly owns 52,872 shares of the company’s stock, valued at $3,878,161.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.88% of the company’s stock.
A number of equities analysts recently weighed in on SYY shares. Consumer Edge started coverage on SYSCO in a report on Wednesday, July 17th. They set an “underweight” rating and a $71.75 price objective on the stock. Wells Fargo & Co reaffirmed a “buy” rating on shares of SYSCO in a research note on Monday, August 12th. Zacks Investment Research lowered SYSCO from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research report on Tuesday, June 11th. JPMorgan Chase & Co. lifted their price objective on SYSCO from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Finally, Credit Suisse Group lifted their price objective on SYSCO from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $73.60.
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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