Diversify Advisory Services LLC Has $1.08 Million Stock Position in Sysco Co. (NYSE:SYY)

Diversify Advisory Services LLC lessened its holdings in shares of Sysco Co. (NYSE:SYY) by 10.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,412 shares of the company’s stock after selling 1,612 shares during the quarter. Diversify Advisory Services LLC’s holdings in Sysco were worth $1,078,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SYY. Claro Advisors LLC acquired a new stake in Sysco during the 1st quarter valued at $206,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Sysco by 23.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 500,562 shares of the company’s stock worth $40,636,000 after buying an additional 94,231 shares during the last quarter. Norden Group LLC bought a new stake in shares of Sysco during the 1st quarter worth about $434,000. First Trust Direct Indexing L.P. raised its holdings in Sysco by 11.8% in the 1st quarter. First Trust Direct Indexing L.P. now owns 20,268 shares of the company’s stock valued at $1,645,000 after acquiring an additional 2,135 shares during the period. Finally, American National Bank & Trust Co. VA acquired a new stake in Sysco during the first quarter worth approximately $266,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

NYSE SYY opened at $74.17 on Wednesday. Sysco Co. has a 1 year low of $64.28 and a 1 year high of $82.89. The firm has a market capitalization of $36.44 billion, a price-to-earnings ratio of 19.07, a P/E/G ratio of 1.93 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. The firm’s 50 day simple moving average is $76.34 and its 200 day simple moving average is $74.75.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. The company had revenue of $20.56 billion for 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 company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.34 EPS. As a group, research analysts expect that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Friday, October 4th. Sysco’s payout ratio is 52.44%.

Analysts Set New Price Targets

SYY has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Jefferies Financial Group lifted their target price on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Barclays upped their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Morgan Stanley cut their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Finally, Bank of America lowered their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.08.

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.