Northstar Advisory Group LLC Has $2.24 Million Stock Position in Sysco Co. (NYSE:SYY)

Northstar Advisory Group LLC cut its position in Sysco Co. (NYSE:SYY) by 16.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,324 shares of the company’s stock after selling 6,012 shares during the period. Sysco accounts for approximately 1.3% of Northstar Advisory Group LLC’s investment portfolio, making the stock its 23rd biggest holding. Northstar Advisory Group LLC’s holdings in Sysco were worth $2,236,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital World Investors increased its holdings in Sysco by 17.5% during the 1st quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock worth $891,758,000 after purchasing an additional 1,637,232 shares in the last quarter. Capital Research Global Investors increased its stake in Sysco by 112.8% in the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after buying an additional 3,504,740 shares during the last quarter. Norges Bank bought a new stake in Sysco during the fourth quarter worth $450,794,000. The Manufacturers Life Insurance Company grew its stake in Sysco by 132.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock valued at $267,177,000 after purchasing an additional 2,084,501 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Sysco by 8.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,036,100 shares of the company’s stock valued at $222,029,000 after purchasing an additional 240,671 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Price Performance

Shares of SYY stock traded up $0.67 during trading hours on Tuesday, reaching $78.64. The stock had a trading volume of 579,880 shares, compared to its average volume of 3,045,868. The stock’s fifty day simple moving average is $74.13 and its 200 day simple moving average is $75.81. 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 firm has a market capitalization of $38.65 billion, a PE ratio of 19.02, a PEG ratio of 2.03 and a beta of 1.20. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 EPS 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 period last year, the firm earned $1.34 EPS. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts predict that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a $0.51 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.59%. Sysco’s dividend payout ratio is currently 49.76%.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Morgan Stanley decreased their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday. Truist Financial lowered their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Finally, Barclays increased their price target on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.