Apollon Wealth Management LLC Sells 798 Shares of Sysco Co. (NYSE:SYY)

Apollon Wealth Management LLC trimmed its position in shares of Sysco Co. (NYSE:SYY) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,244 shares of the company’s stock after selling 798 shares during the period. Apollon Wealth Management LLC’s holdings in Sysco were worth $1,731,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bridgefront Capital LLC acquired a new stake in Sysco during the fourth quarter valued at approximately $841,000. ORG Partners LLC boosted its holdings in Sysco by 3,159.0% during the second quarter. ORG Partners LLC now owns 7,072 shares of the company’s stock valued at $495,000 after purchasing an additional 6,855 shares in the last quarter. Nebula Research & Development LLC acquired a new position in shares of Sysco in the 4th quarter worth approximately $916,000. Artisan Partners Limited Partnership boosted its holdings in shares of Sysco by 11.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 597,216 shares of the company’s stock worth $43,674,000 after acquiring an additional 62,556 shares in the last quarter. Finally, Cannell & Co. boosted its holdings in shares of Sysco by 20.4% in the 4th quarter. Cannell & Co. now owns 206,834 shares of the company’s stock worth $15,126,000 after acquiring an additional 35,089 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Up 0.4 %

NYSE SYY traded up $0.34 on Monday, reaching $76.91. The company had a trading volume of 1,996,808 shares, compared to its average volume of 3,108,917. The firm has a market capitalization of $38.30 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 1.98 and a beta of 1.18. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89. The company’s fifty day moving average is $73.08 and its 200-day moving average is $76.04.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company’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 business earned $1.34 EPS. On average, research analysts forecast that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.65%. Sysco’s dividend payout ratio is 49.76%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. UBS Group reduced their target price on Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Piper Sandler reduced their target price on Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Barclays upped their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. BMO Capital Markets reduced their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Finally, Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Tuesday, May 28th. 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 has an average rating of “Moderate Buy” and an average target price of $85.27.

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.