Czech National Bank Sells 715 Shares of Sysco Co. (NYSE:SYY)

Czech National Bank decreased its holdings in shares of Sysco Co. (NYSE:SYY) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,593 shares of the company’s stock after selling 715 shares during the quarter. Czech National Bank’s holdings in Sysco were worth $7,111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Professional Advisory Services Inc. bought a new stake in Sysco in the 4th quarter valued at $20,057,000. Harbour Trust & Investment Management Co bought a new stake in shares of Sysco in the fourth quarter valued at about $4,623,000. Pacer Advisors Inc. grew its position in Sysco by 40.1% during the fourth quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock worth $6,014,000 after buying an additional 23,558 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Sysco by 16.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock valued at $21,865,000 after acquiring an additional 41,618 shares during the period. Finally, Bridgefront Capital LLC acquired a new position in Sysco in the 4th quarter valued at approximately $841,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. Barclays lowered their price target on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, May 28th. UBS Group lowered their target price on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Piper Sandler cut their price target on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $85.10.

Sysco Trading Up 0.1 %

Sysco stock traded up $0.07 during trading hours on Thursday, reaching $72.75. 5,447,530 shares of the company’s stock traded hands, compared to its average volume of 3,020,482. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The firm’s 50 day moving average is $74.26 and its 200-day moving average is $76.40. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34. The firm has a market capitalization of $36.23 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 2.08 and a beta of 1.17.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. The firm had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. On average, analysts predict that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.80%. This is a positive change from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio (DPR) 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.