Sequoia Financial Advisors LLC Cuts Holdings in Sysco Co. (NYSE:SYY)

Sequoia Financial Advisors LLC decreased its position in shares of Sysco Co. (NYSE:SYY) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,174 shares of the company’s stock after selling 155 shares during the period. Sequoia Financial Advisors LLC’s holdings in Sysco were worth $1,297,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SYY. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Sysco by 8.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,150 shares of the company’s stock valued at $6,885,000 after purchasing an additional 6,981 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Sysco by 8.2% in the 4th quarter. Cerity Partners LLC now owns 175,938 shares of the company’s stock valued at $12,867,000 after acquiring an additional 13,372 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Sysco by 29.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 5,532 shares of the company’s stock valued at $405,000 after acquiring an additional 1,263 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of Sysco by 36.4% in the 4th quarter. Perigon Wealth Management LLC now owns 6,042 shares of the company’s stock valued at $442,000 after acquiring an additional 1,612 shares during the last quarter. Finally, Koshinski Asset Management Inc. lifted its holdings in shares of Sysco by 9.2% in the 4th quarter. Koshinski Asset Management Inc. now owns 5,473 shares of the company’s stock valued at $400,000 after acquiring an additional 461 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Truist Financial lowered their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. Morgan Stanley lowered their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. JPMorgan Chase & Co. decreased their price objective on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Bank of America decreased their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Barclays raised their price objective on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.27.

Sysco Trading Down 0.7 %

Shares of Sysco stock traded down $0.49 on Tuesday, hitting $74.75. 722,739 shares of the company traded hands, compared to its average volume of 3,115,414. The stock’s 50 day moving average price is $72.81 and its 200-day moving average price is $76.10. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a market cap of $37.22 billion, a PE ratio of 18.35, a PEG ratio of 1.97 and a beta of 1.18.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. During the same quarter in the previous year, the firm posted $1.34 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. Equities research analysts predict that Sysco Co. will post 4.6 EPS for the current year.

About Sysco

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.