SYSCO Co. (NYSE:SYY) Shares Sold by Pendal Group Ltd

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Pendal Group Ltd lowered its stake in shares of SYSCO Co. (NYSE:SYY) by 46.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,646 shares of the company’s stock after selling 3,963 shares during the period. Pendal Group Ltd’s holdings in SYSCO were worth $312,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. 6 Meridian boosted its position in SYSCO by 1.8% in the 2nd quarter. 6 Meridian now owns 7,760 shares of the company’s stock valued at $549,000 after buying an additional 140 shares during the period. Security National Trust Co. boosted its position in SYSCO by 6.4% in the 1st quarter. Security National Trust Co. now owns 2,500 shares of the company’s stock valued at $167,000 after buying an additional 150 shares during the period. Mitchell Mcleod Pugh & Williams Inc. boosted its position in SYSCO by 3.4% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 4,623 shares of the company’s stock valued at $327,000 after buying an additional 150 shares during the period. Cornerstone Advisors Inc. boosted its position in SYSCO by 27.0% in the 2nd quarter. Cornerstone Advisors Inc. now owns 733 shares of the company’s stock valued at $52,000 after buying an additional 156 shares during the period. Finally, Cable Hill Partners LLC boosted its position in SYSCO by 11.8% in the 1st quarter. Cable Hill Partners LLC now owns 1,520 shares of the company’s stock valued at $101,000 after buying an additional 161 shares during the period. 78.30% of the stock is owned by hedge funds and other institutional investors.

Shares of SYY opened at $72.96 on Friday. SYSCO Co. has a twelve month low of $59.44 and a twelve month high of $75.98. The firm’s fifty day simple moving average is $70.97 and its 200-day simple moving average is $69.67. The firm has a market capitalization of $37.15 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 1.91 and a beta of 0.52. The company has a current ratio of 1.33, a quick ratio of 0.79 and a debt-to-equity ratio of 3.25.

SYSCO (NYSE:SYY) last announced its quarterly earnings data on Monday, August 12th. The company reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.03. SYSCO had a net margin of 2.79% and a return on equity of 76.80%. The business had revenue of $15.47 billion for the quarter, compared to analyst estimates of $15.65 billion. During the same period last year, the business earned $0.94 EPS. The company’s revenue was up 1.0% on a year-over-year basis. On average, analysts predict that SYSCO Co. will post 3.82 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.56 annualized dividend and a yield of 2.14%. SYSCO’s dividend payout ratio is currently 43.94%.

Several equities analysts have commented on the stock. Zacks Investment Research cut shares of SYSCO from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a research report on Tuesday, June 11th. Barclays raised their price target on shares of SYSCO from $70.00 to $71.00 and gave the company an “equal weight” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of SYSCO from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday. Wells Fargo & Co reissued a “buy” rating on shares of SYSCO in a research report on Monday, August 12th. Finally, ValuEngine raised shares of SYSCO from a “hold” rating to a “buy” rating in a research report on Wednesday, May 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $73.60.

SYSCO Profile

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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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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