Sysco Co. (NYSE:SYY) Shares Sold by Varma Mutual Pension Insurance Co

VaselineSeptember 10, 2024

0 3 minutes read

Varma Mutual Pension Insurance Co reduced its position in shares of Sysco Co. (NYSE:SYY – Free Report) by 8.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 135,872 shares of the company’s stock after selling 13,328 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Sysco were worth $9,700,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. TruNorth Capital Management LLC bought a new position in Sysco in the second quarter valued at about $25,000. First United Bank & Trust bought a new stake in Sysco in the fourth quarter valued at approximately $26,000. OFI Invest Asset Management purchased a new stake in Sysco in the first quarter valued at about $31,000. Burkett Financial Services LLC bought a new position in Sysco in the 4th quarter valued at $30,000. Finally, Fairman Group LLC acquired a new position in shares of Sysco in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 83.41% of the company’s shares.

Analyst upgrades and downgrades

SYY has been the subject of several research analyst reports. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. BMO Capital Markets reduced their price objective on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Tuesday, May 28th. Finally, Truist Financial cut their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, June 24th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and a consensus price target of $85.27.

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Sysco price performance

SYY opened at $78.41 on Tuesday. The firm has a market cap of $38.54 billion, a P/E ratio of 19.12, a PEG ratio of 2.05 and a beta of 1.20. The stock has a fifty day moving average of $74.78 and a 200 day moving average of $75.77. 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 Co. has a 12-month low of $62.24 and a 12-month high of $82.89.

Sysco (NYSE:SYY – Get Your Free Report ) last posted 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 return on equity of 102.09% and a net margin of 2.48%. The firm had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. In the same period last year, the company earned $1.34 per share. Sysco’s quarterly revenue was up 4.2% on a year-over-year basis. Stock analysts predict that Sysco Co. will record 4.6 EPS for the current fiscal year.

Sysco announces dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be paid a dividend of $0.51 per share. This represents a dividend of $2.04 on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Friday, October 4. Sysco’s payout ratio is currently 49.76%.

Sysco Company Profile

(Free Report)

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products for the foodservice or food-away-from-home industries in the United States, Canada, the United Kingdom, France and internationally. It operates through US foodservice operations, international foodservice operations, SYGMA and other segments.