Whittier Trust Co. Sells 1,830 Shares of Sysco Co. (NYSE:SYY)

Whittier Trust Co. decreased its holdings in Sysco Co. (NYSE:SYY) by 17.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,532 shares of the company’s stock after selling 1,830 shares during the period. Whittier Trust Co.’s holdings in Sysco were worth $609,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. TruNorth Capital Management LLC bought a new position in Sysco during the 2nd quarter valued at about $25,000. First United Bank & Trust bought a new position in shares of Sysco during the 4th quarter valued at $26,000. OFI Invest Asset Management purchased a new position in shares of Sysco in the 1st quarter worth $31,000. Burkett Financial Services LLC purchased a new position in shares of Sysco in the 4th quarter worth $30,000. Finally, Headlands Technologies LLC bought a new position in Sysco in the fourth quarter valued at about $34,000. 83.41% of the stock is owned by institutional investors.

Sysco Price Performance

SYY traded up $0.97 during trading on Thursday, hitting $77.64. 1,080,885 shares of the company traded hands, compared to its average volume of 3,054,033. The company has a market cap of $38.66 billion, a PE ratio of 18.70, a P/E/G ratio of 2.02 and a beta of 1.18. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The stock’s 50-day simple moving average is $73.80 and its two-hundred day simple moving average is $75.86.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.01. The business had revenue of $20.56 billion for the quarter, compared to analysts’ expectations of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.34 EPS. As a group, sell-side analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.63%. Sysco’s payout ratio is 49.76%.

Analyst Ratings Changes

A number of research firms have issued reports on SYY. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 9th. Bank of America decreased their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. UBS Group cut their price objective on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Truist Financial cut their price target on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $85.27.

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.