Sysco Co. (NYSE:SYY) Shares Sold by Richelieu Gestion SA

Richelieu Gestion SA lowered its holdings in shares of Sysco Co. (NYSE:SYY) by 15.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,042 shares of the company’s stock after selling 5,292 shares during the period. Sysco accounts for 2.5% of Richelieu Gestion SA’s investment portfolio, making the stock its 12th largest holding. Richelieu Gestion SA’s holdings in Sysco were worth $2,439,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SYY. Dark Forest Capital Management LP boosted its position in shares of Sysco by 10.3% in the third quarter. Dark Forest Capital Management LP now owns 8,910 shares of the company’s stock worth $589,000 after acquiring an additional 834 shares during the last quarter. LPL Financial LLC lifted its position in Sysco by 9.2% during the third quarter. LPL Financial LLC now owns 421,496 shares of the company’s stock valued at $27,840,000 after buying an additional 35,453 shares in the last quarter. Stifel Financial Corp lifted its position in Sysco by 0.5% during the third quarter. Stifel Financial Corp now owns 404,068 shares of the company’s stock valued at $26,689,000 after buying an additional 2,185 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Sysco by 379.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 103,728 shares of the company’s stock valued at $6,851,000 after purchasing an additional 82,092 shares during the period. Finally, Primecap Management Co. CA increased its stake in shares of Sysco by 2.2% in the third quarter. Primecap Management Co. CA now owns 2,158,250 shares of the company’s stock worth $142,552,000 after buying an additional 45,505 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE:SYY traded down $2.10 during midday trading on Wednesday, reaching $72.36. The company’s stock had a trading volume of 1,653,787 shares, compared to its average volume of 3,081,447. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The company has a market capitalization of $36.03 billion, a P/E ratio of 17.96, a P/E/G ratio of 2.14 and a beta of 1.17. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. The business’s fifty day simple moving average is $74.17 and its 200-day simple moving average is $76.46.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The company 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%. Sysco’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.90 earnings per share. As a group, equities research analysts expect that Sysco Co. will post 4.29 EPS for the current fiscal 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 of this dividend is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.82%. This is a positive change from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio (DPR) is currently 48.78%.

Analysts Set New Price Targets

SYY has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Piper Sandler reduced their price target on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. BMO Capital Markets reduced their price target on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Morgan Stanley reduced their price target on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Sysco has an average rating of “Moderate Buy” and a consensus price target of $84.90.

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.