Strs Ohio Cuts Stock Position in Sysco Corporation $SYY

Strs Ohio decreased its holdings in Sysco Corporation (NYSE:SYY) by 32.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,317 shares of the company’s stock after selling 29,789 shares during the quarter. Strs Ohio’s holdings in Sysco were worth $5,049,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYY. Gateway Investment Advisers LLC grew its position in shares of Sysco by 594.8% during the third quarter. Gateway Investment Advisers LLC now owns 85,622 shares of the company’s stock worth $7,050,000 after acquiring an additional 73,298 shares during the last quarter. Norges Bank acquired a new position in Sysco during the second quarter worth about $493,686,000. Accurate Wealth Management LLC acquired a new position in Sysco during the third quarter worth $2,497,000. Brighton Jones LLC boosted its position in shares of Sysco by 4.3% in the 2nd quarter. Brighton Jones LLC now owns 90,338 shares of the company’s stock worth $6,842,000 after buying an additional 3,760 shares in the last quarter. Finally, Shell Asset Management Co. grew its position in shares of Sysco by 31.6% in the second quarter. Shell Asset Management Co. now owns 19,218 shares of the company’s stock valued at $1,456,000 after purchasing an additional 4,620 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. Barclays lifted their price target on Sysco from $86.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Piper Sandler reduced their price target on shares of Sysco from $81.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, December 12th. Guggenheim lifted their target price on Sysco from $87.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Finally, Sanford C. Bernstein assumed coverage on shares of Sysco in a research note on Wednesday, October 22nd. They set a “market perform” rating and a $83.00 price objective on the stock. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.75.

Sysco Price Performance

NYSE SYY opened at $75.67 on Tuesday. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $83.47. The stock has a 50-day simple moving average of $74.98 and a 200 day simple moving average of $77.73. The stock has a market capitalization of $36.23 billion, a PE ratio of 20.29, a P/E/G ratio of 2.51 and a beta of 0.61. The company has a debt-to-equity ratio of 5.54, a quick ratio of 0.65 and a current ratio of 1.15.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, October 28th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. The business had revenue of $21.15 billion for the quarter, compared to analysts’ expectations of $21.03 billion. Sysco had a return on equity of 112.04% and a net margin of 2.21%.Sysco’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 earnings per share. Research analysts anticipate that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Investors of record on Friday, January 2nd were given a dividend of $0.54 per share. The ex-dividend date was Friday, January 2nd. This represents a $2.16 annualized dividend and a yield of 2.9%. Sysco’s dividend payout ratio is 57.91%.

Sysco Company Profile

Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.