Wealth Management Partners LLC Has $967,000 Stake in Sysco Co. (NYSE:SYY)

Wealth Management Partners LLC trimmed its holdings in Sysco Co. (NYSE:SYYGet Rating) by 8.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,000 shares of the company’s stock after selling 1,000 shares during the period. Wealth Management Partners LLC’s holdings in Sysco were worth $967,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYY. Field & Main Bank boosted its position in shares of Sysco by 1.7% in the 1st quarter. Field & Main Bank now owns 7,030 shares of the company’s stock worth $574,000 after purchasing an additional 115 shares in the last quarter. Stock Yards Bank & Trust Co. boosted its position in shares of Sysco by 3.2% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 3,756 shares of the company’s stock worth $307,000 after purchasing an additional 115 shares in the last quarter. Aevitas Wealth Management Inc. boosted its position in shares of Sysco by 3.0% in the 1st quarter. Aevitas Wealth Management Inc. now owns 3,970 shares of the company’s stock worth $324,000 after purchasing an additional 117 shares in the last quarter. Rosenberg Matthew Hamilton boosted its position in shares of Sysco by 9.2% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,387 shares of the company’s stock worth $120,000 after purchasing an additional 117 shares in the last quarter. Finally, Ellevest Inc. boosted its position in shares of Sysco by 2.9% in the 1st quarter. Ellevest Inc. now owns 4,190 shares of the company’s stock worth $342,000 after purchasing an additional 120 shares in the last quarter. 82.43% of the stock is owned by institutional investors and hedge funds.

Sysco Price Performance

Shares of Sysco stock traded down $2.60 on Friday, hitting $74.78. The company’s stock had a trading volume of 48,832 shares, compared to its average volume of 1,773,847. The company has a debt-to-equity ratio of 7.28, a quick ratio of 0.69 and a current ratio of 1.20. Sysco Co. has a 1 year low of $68.05 and a 1 year high of $91.53. The firm has a fifty day moving average price of $83.98 and a 200-day moving average price of $83.51. The company has a market capitalization of $37.85 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 2.07 and a beta of 1.01.

Sysco (NYSE:SYYGet Rating) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.03. Sysco had a return on equity of 119.55% and a net margin of 1.98%. The firm had revenue of $18.96 billion during the quarter, compared to analyst estimates of $18.29 billion. During the same quarter in the previous year, the business earned $0.71 EPS. Sysco’s revenue for the quarter was up 17.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sysco Co. will post 4.2 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 7th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, October 6th. Sysco’s payout ratio is 74.24%.

Analyst Ratings Changes

SYY has been the subject of a number of recent analyst reports. Truist Financial lowered their price objective on Sysco from $98.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, August 10th. Stephens initiated coverage on Sysco in a research report on Thursday. They set an “overweight” rating and a $90.00 price target for the company. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 14th. JPMorgan Chase & Co. raised Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 price target for the company in a research report on Thursday, May 26th. Finally, Credit Suisse Group lowered their price target on Sysco from $107.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, August 10th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.67.

About Sysco

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Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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