ACG Wealth Has $734,000 Stock Position in Sysco Co. (NYSE:SYY)

ACG Wealth lowered its position in shares of Sysco Co. (NYSE:SYYGet Rating) by 5.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,660 shares of the company’s stock after selling 514 shares during the quarter. ACG Wealth’s holdings in Sysco were worth $734,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SYY. Field & Main Bank grew its position in Sysco by 1.7% during the first quarter. Field & Main Bank now owns 7,030 shares of the company’s stock valued at $574,000 after buying an additional 115 shares during the period. Stock Yards Bank & Trust Co. grew its position in Sysco by 3.2% during the first quarter. Stock Yards Bank & Trust Co. now owns 3,756 shares of the company’s stock valued at $307,000 after buying an additional 115 shares during the period. Aevitas Wealth Management Inc. grew its position in Sysco by 3.0% during the first quarter. Aevitas Wealth Management Inc. now owns 3,970 shares of the company’s stock valued at $324,000 after buying an additional 117 shares during the period. Ellevest Inc. grew its position in Sysco by 2.9% during the first quarter. Ellevest Inc. now owns 4,190 shares of the company’s stock valued at $342,000 after buying an additional 120 shares during the period. Finally, Brinker Capital Investments LLC grew its position in Sysco by 3.2% during the first quarter. Brinker Capital Investments LLC now owns 3,851 shares of the company’s stock valued at $314,000 after buying an additional 121 shares during the period. Institutional investors and hedge funds own 82.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SYY shares. Barclays reduced their price target on shares of Sysco to $100.00 in a research report on Monday, August 15th. JPMorgan Chase & Co. upgraded shares of Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 target price for the company in a research report on Thursday, May 26th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 14th. Truist Financial cut their target price on shares of Sysco from $98.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, August 10th. Finally, Credit Suisse Group cut their target price 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. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $94.13.

Sysco Trading Down 1.4 %

Shares of SYY opened at $78.45 on Thursday. The firm’s 50 day simple moving average is $84.17 and its 200 day simple moving average is $83.51. The company has a market capitalization of $39.70 billion, a P/E ratio of 29.72, a P/E/G ratio of 2.10 and a beta of 1.01. The company has a debt-to-equity ratio of 7.28, a current ratio of 1.20 and a quick ratio of 0.69. Sysco Co. has a 1-year low of $68.05 and a 1-year high of $91.53.

Sysco (NYSE:SYYGet Rating) last announced its earnings results on Tuesday, August 9th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. The business had revenue of $18.96 billion for the quarter, compared to the consensus estimate of $18.29 billion. Sysco had a net margin of 1.98% and a return on equity of 119.55%. Sysco’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the firm posted $0.71 earnings per share. Sell-side analysts forecast that Sysco Co. will post 4.2 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 7th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, October 6th. Sysco’s dividend payout ratio is currently 74.24%.

Sysco 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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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