West Branch Capital LLC Sells 1,912 Shares of Sysco Co. (NYSE:SYY)

West Branch Capital LLC lessened its position in shares of Sysco Co. (NYSE:SYY) by 31.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,230 shares of the company’s stock after selling 1,912 shares during the period. West Branch Capital LLC’s holdings in Sysco were worth $330,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SYY. Capital Research Global Investors lifted its position in Sysco by 112.8% during the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after acquiring an additional 3,504,740 shares during the last quarter. ProShare Advisors LLC raised its position in shares of 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 in the last quarter. Swedbank AB acquired a new stake in shares of Sysco in the first quarter valued at approximately $178,824,000. Diamond Hill Capital Management Inc. raised its position in shares of Sysco by 49.8% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company’s stock valued at $429,240,000 after buying an additional 1,997,895 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Sysco by 26.1% in the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after buying an additional 1,782,180 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SYY. JPMorgan Chase & Co. lifted their price target on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Morgan Stanley decreased their price objective on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Truist Financial decreased their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Jefferies Financial Group lifted their price objective on shares of Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Barclays lifted their price objective 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. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.08.

Sysco Trading Up 0.2 %

NYSE SYY traded up $0.16 during trading hours on Friday, hitting $75.54. 3,048,198 shares of the company’s stock were exchanged, compared to its average volume of 3,163,805. The stock has a 50-day simple moving average of $76.55 and a 200 day simple moving average of $74.89. Sysco Co. has a 1-year low of $64.28 and a 1-year high of $82.89. The firm has a market cap of $37.62 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.96 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.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $20.56 billion during the quarter, compared to analysts’ expectations 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 firm posted $1.34 earnings per share. On average, equities analysts forecast that Sysco Co. will post 4.6 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors 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 dividend on an annualized basis and a yield of 2.70%. 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.