Sysco Co. (NYSE:SYY) Shares Sold by Red Mountain Financial LLC

Red Mountain Financial LLC cut its position in Sysco Co. (NYSE:SYY) by 4.4% during the third quarter, HoldingsChannel reports. The firm owned 2,961 shares of the company’s stock after selling 137 shares during the quarter. Red Mountain Financial LLC’s holdings in Sysco were worth $231,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SYY. Walker Financial Services Inc. purchased a new position in Sysco in the third quarter valued at $348,000. LVW Advisors LLC acquired a new stake in shares of Sysco during the 3rd quarter worth about $225,000. Franklin Street Advisors Inc. NC lifted its stake in Sysco by 11.1% during the third quarter. Franklin Street Advisors Inc. NC now owns 5,607 shares of the company’s stock worth $438,000 after purchasing an additional 560 shares during the last quarter. Albion Financial Group UT boosted its holdings in Sysco by 27.8% in the third quarter. Albion Financial Group UT now owns 1,378 shares of the company’s stock valued at $108,000 after purchasing an additional 300 shares in the last quarter. Finally, Tobam acquired a new stake in Sysco during the third quarter worth approximately $81,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Bank of America lowered their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Jefferies Financial Group upped their target price on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. upped their target price on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Truist Financial lowered their target price 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, StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Trading Up 0.8 %

Shares of Sysco stock opened at $74.42 on Friday. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20 and a quick ratio of 0.69. Sysco Co. has a 1 year low of $62.45 and a 1 year high of $82.89. The company has a market capitalization of $37.06 billion, a P/E ratio of 18.15, a P/E/G ratio of 1.94 and a beta of 1.20. The business has a 50 day moving average price of $76.53 and a 200 day moving average price of $75.12.

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. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The firm had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. During the same period in the previous year, the firm posted $1.34 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts anticipate that Sysco Co. will post 4.6 EPS for the current fiscal 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 given a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.74%. 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.