Marble Harbor Investment Counsel LLC Decreases Position in Sysco Co. (NYSE:SYY)

Marble Harbor Investment Counsel LLC lessened its stake in Sysco Co. (NYSE:SYY) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,180 shares of the company’s stock after selling 355 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in Sysco were worth $584,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SYY. Chicago Partners Investment Group LLC grew its holdings in Sysco by 1.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock worth $536,000 after buying an additional 124 shares in the last quarter. Bell Investment Advisors Inc lifted its holdings in Sysco by 8.2% in the fourth quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock worth $126,000 after purchasing an additional 131 shares during the period. Beacon Investment Advisors LLC grew its position in Sysco by 0.5% in the 4th quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock valued at $1,805,000 after buying an additional 133 shares in the last quarter. Plimoth Trust Co. LLC lifted its stake in shares of Sysco by 0.6% in the 2nd quarter. Plimoth Trust Co. LLC now owns 22,547 shares of the company’s stock worth $1,610,000 after acquiring an additional 139 shares during the period. Finally, Meeder Advisory Services Inc. boosted its holdings in shares of Sysco by 1.7% in the first quarter. Meeder Advisory Services Inc. now owns 8,362 shares of the company’s stock valued at $679,000 after acquiring an additional 141 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the subject of a number of research analyst reports. BMO Capital Markets cut their target price on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Bank of America reduced their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft dropped their target price 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. Truist Financial reduced 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, Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Tuesday, May 28th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.27.

Sysco Trading Down 0.6 %

Shares of NYSE:SYY opened at $76.52 on Monday. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. The firm has a market capitalization of $38.11 billion, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 2.01 and a beta of 1.20. The firm has a fifty day moving average of $75.34 and a two-hundred day moving average of $75.66. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The business had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.51 billion. During the same quarter last year, the firm earned $1.34 EPS. Sysco’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities analysts expect that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

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 paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s payout ratio is 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.