Rathbones Group PLC Sells 6,954 Shares of Sysco Co. (NYSE:SYY)

Rathbones Group PLC lessened its holdings in Sysco Co. (NYSE:SYY) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 181,784 shares of the company’s stock after selling 6,954 shares during the period. Rathbones Group PLC’s holdings in Sysco were worth $12,978,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Accretive Wealth Partners LLC boosted its stake in shares of Sysco by 1.0% during the fourth quarter. Accretive Wealth Partners LLC now owns 21,788 shares of the company’s stock valued at $1,593,000 after purchasing an additional 212 shares in the last quarter. Gryphon Financial Partners LLC lifted its stake in shares of Sysco by 55.0% in the fourth quarter. Gryphon Financial Partners LLC now owns 4,817 shares of the company’s stock worth $352,000 after acquiring an additional 1,710 shares during the period. Panagora Asset Management Inc. lifted its stake in shares of Sysco by 8.6% in the fourth quarter. Panagora Asset Management Inc. now owns 19,344 shares of the company’s stock worth $1,415,000 after acquiring an additional 1,531 shares during the period. NorthRock Partners LLC acquired a new position in shares of Sysco in the fourth quarter worth approximately $291,000. Finally, Financial Advocates Investment Management lifted its stake in shares of Sysco by 7.5% in the fourth quarter. Financial Advocates Investment Management now owns 8,001 shares of the company’s stock worth $585,000 after acquiring an additional 555 shares during the period. Institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays lifted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. cut their price objective on Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Morgan Stanley cut their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Bank of America dropped their price target on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Finally, Guggenheim raised Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.27.

Sysco Trading Down 0.6 %

NYSE SYY opened at $76.52 on Monday. The company has a market cap of $38.11 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 2.01 and a beta of 1.20. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The business has a 50 day moving average price of $75.34 and a 200-day moving average price of $75.66. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19.

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

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.67%. Sysco’s dividend 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.