D.B. Root & Company LLC Sells 164 Shares of Sysco Co. (NYSE:SYY)

D.B. Root & Company LLC trimmed its holdings in Sysco Co. (NYSE:SYY) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,285 shares of the company’s stock after selling 164 shares during the period. D.B. Root & Company LLC’s holdings in Sysco were worth $1,241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. First United Bank & Trust purchased a new stake in shares of Sysco in the fourth quarter valued at about $26,000. AdvisorNet Financial Inc increased its holdings in Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after buying an additional 159 shares during the last quarter. Burkett Financial Services LLC purchased a new stake in Sysco during the fourth quarter worth about $30,000. Headlands Technologies LLC purchased a new stake in Sysco during the fourth quarter worth about $34,000. Finally, JFS Wealth Advisors LLC increased its holdings in Sysco by 39.3% during the fourth quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock worth $37,000 after buying an additional 141 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Price Performance

Shares of SYY stock traded down $1.08 during trading hours on Friday, hitting $71.39. 15,189,200 shares of the company’s stock were exchanged, compared to its average volume of 3,513,296. The company has a market capitalization of $35.55 billion, a PE ratio of 17.41, a PEG ratio of 2.05 and a beta of 1.17. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The business’s 50 day simple moving average is $73.94 and its 200-day simple moving average is $76.40. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The firm had revenue of $19.38 billion for the quarter, compared to the consensus estimate of $19.74 billion. During the same period last year, the firm posted $0.90 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts anticipate that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. This is an increase from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. Sysco’s payout ratio is presently 48.78%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Tuesday, May 28th. Morgan Stanley reduced their target price on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, May 23rd. BMO Capital Markets reduced their target price on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Piper Sandler reduced their target price on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, Barclays cut their price objective on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and a consensus target price of $84.90.

Sysco Company Profile

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.