Prio Wealth Limited Partnership Sells 141 Shares of Sysco Co. (NYSE:SYY)

Prio Wealth Limited Partnership cut its stake in Sysco Co. (NYSE:SYY) by 0.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,300 shares of the company’s stock after selling 141 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Sysco were worth $2,053,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Fisher Asset Management LLC boosted its holdings in shares of Sysco by 52.5% in the fourth quarter. Fisher Asset Management LLC now owns 8,084 shares of the company’s stock worth $591,000 after buying an additional 2,784 shares during the last quarter. Alaska Permanent Fund Corp purchased a new position in shares of Sysco in the first quarter worth approximately $105,000. Ballentine Partners LLC lifted its holdings in Sysco by 2.9% during the first quarter. Ballentine Partners LLC now owns 10,055 shares of the company’s stock valued at $816,000 after purchasing an additional 281 shares in the last quarter. Global Assets Advisory LLC purchased a new position in Sysco during the first quarter valued at approximately $1,145,000. Finally, Riverview Trust Co purchased a new position in Sysco during the first quarter valued at approximately $77,000. 83.41% of the stock is currently owned by institutional investors.

Sysco Price Performance

SYY traded up $0.36 during trading hours on Monday, hitting $75.90. The company’s stock had a trading volume of 519,776 shares, compared to its average volume of 3,150,780. The business’s 50-day moving average price is $76.55 and its 200-day moving average price is $74.85. Sysco Co. has a 12 month low of $64.28 and a 12 month high of $82.89. The stock has a market cap of $37.29 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 1.97 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 results on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $20.51 billion. During the same quarter in the previous year, the business posted $1.34 earnings per share. Sysco’s quarterly revenue was up 4.2% on a year-over-year basis. Sell-side analysts expect that Sysco Co. will post 4.6 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is 52.44%.

Analyst Upgrades and Downgrades

Several brokerages have 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 report on Monday, September 16th. Bank of America lowered their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Morgan Stanley lowered their price target on shares of Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Finally, Barclays boosted their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.08.

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.