Citizens Financial Group Inc. RI Grows Holdings in Sysco Co. (NYSE:SYY)

Citizens Financial Group Inc. RI raised its position in Sysco Co. (NYSE:SYY) by 936.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,949 shares of the company’s stock after buying an additional 79,464 shares during the period. Citizens Financial Group Inc. RI’s holdings in Sysco were worth $6,279,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SYY. TruNorth Capital Management LLC bought a new stake in shares of Sysco in the second quarter worth $25,000. Burkett Financial Services LLC bought a new position in shares of Sysco during the fourth quarter worth about $30,000. OFI Invest Asset Management acquired a new position in Sysco in the first quarter worth about $31,000. Fairman Group LLC bought a new stake in Sysco in the fourth quarter valued at about $39,000. Finally, Livelsberger Financial Advisory acquired a new stake in Sysco during the fourth quarter valued at approximately $44,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SYY. Deutsche Bank Aktiengesellschaft decreased their target price on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Morgan Stanley reduced their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Truist Financial decreased 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. Finally, JPMorgan Chase & Co. increased 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 Monday. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.55.

Sysco Price Performance

NYSE SYY opened at $77.18 on Tuesday. The company has a 50-day moving average price of $75.49 and a two-hundred day moving average price of $75.64. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The stock has a market cap of $38.43 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20. 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 (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 analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.34 EPS. Analysts forecast that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, October 4th. Sysco’s payout ratio is currently 49.76%.

Sysco 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.