NORTHSTAR ASSET MANAGEMENT Co LLC Lowers Holdings in Sysco Co. (NYSE:SYY)

NORTHSTAR ASSET MANAGEMENT Co LLC decreased its position in Sysco Co. (NYSE:SYY) by 5.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,800 shares of the company’s stock after selling 575 shares during the period. NORTHSTAR ASSET MANAGEMENT Co LLC’s holdings in Sysco were worth $700,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. TruNorth Capital Management LLC purchased a new stake in Sysco during the second quarter worth $25,000. First United Bank & Trust purchased a new stake in Sysco during the fourth quarter worth $26,000. OFI Invest Asset Management purchased a new stake in Sysco during the first quarter worth $31,000. Burkett Financial Services LLC purchased a new stake in Sysco during the fourth quarter worth $30,000. Finally, Headlands Technologies LLC purchased a new stake in Sysco during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of analyst reports. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price target on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. JPMorgan Chase & Co. reduced their price target on Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. UBS Group reduced their price target on Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, BMO Capital Markets reduced their price target on Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $85.27.

Sysco Stock Performance

Shares of NYSE SYY traded up $0.81 during mid-day trading on Friday, hitting $76.57. The stock had a trading volume of 2,197,203 shares, compared to its average volume of 3,204,062. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. The company has a 50 day moving average of $73.08 and a two-hundred day moving average of $76.07. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The firm has a market cap of $38.13 billion, a PE ratio of 18.68, a PEG ratio of 1.98 and a beta of 1.18.

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

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio is currently 49.76%.

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.