Sysco Co. (NYSE:SYY) Shares Sold by Brown Miller Wealth Management LLC

Brown Miller Wealth Management LLC reduced its holdings in Sysco Co. (NYSE:SYY) by 5.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,438 shares of the company’s stock after selling 257 shares during the period. Brown Miller Wealth Management LLC’s holdings in Sysco were worth $346,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Research Global Investors boosted its position in Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after purchasing an additional 3,504,740 shares during the period. ProShare Advisors LLC lifted its stake in Sysco by 103.0% in the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after buying an additional 2,408,226 shares during the last quarter. Swedbank AB acquired a new position in shares of Sysco during the first quarter valued at $178,824,000. Diamond Hill Capital Management Inc. grew its position in shares of Sysco by 49.8% during the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock worth $429,240,000 after acquiring an additional 1,997,895 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after acquiring an additional 1,782,180 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. 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 research note on Monday, June 24th. Bank of America reduced their price objective on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Jefferies Financial Group raised their target price on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Barclays raised their price target on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.08.

Sysco Trading Up 0.8 %

Shares of SYY stock opened at $74.42 on Friday. 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 stock has a 50-day simple moving average of $76.53 and a 200 day simple moving average of $75.08. Sysco Co. has a fifty-two week low of $62.45 and a fifty-two week high of $82.89. The stock has a market capitalization of $36.56 billion, a P/E ratio of 19.13, a P/E/G ratio of 1.92 and a beta of 1.20.

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

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.74%. Sysco’s dividend payout ratio is currently 52.44%.

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.