Longview Partners Guernsey LTD sells 865,953 shares of Sysco Co. (NYSE:SYY)

VaselineSeptember 21, 2024

0 3 minutes read

Longview Partners Guernsey LTD decreased its position in Sysco Co. (NYSE:SYY – Free Report) by 11.8% in the second quarter, according to the company in its most recent SEC disclosure. The firm owned 6,498,677 shares of the company’s stock after selling 865,953 shares during the quarter. Sysco makes up 3.4% of Longview Partners Guernsey LTD’s portfolio, making the stock its 21st largest holding. Longview Partners Guernsey LTD’s holdings in Sysco were worth $463,941,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SYY. Capital World Investors acquired a new position in Sysco in the fourth quarter valued at about $683,599,000. Capital Research Global Investors boosted its position in Sysco by 112.8% in the first 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 in the last quarter. Swedbank AB purchased a new position in shares of Sysco in the first quarter valued at $178,824,000. The Manufacturers Life Insurance Company grew its stake in Sysco by 132.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock worth $267,177,000 after which acquired an additional 2,084,501 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its holdings 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 valued at $429,240,000 after purchasing an additional 1,997,895 shares during the last quarter. Institutional investors own 83.41% of the company’s shares.

Analyst upgrades and downgrades

A number of brokerages recently weighed in on SYY. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Tuesday, May 28th. JPMorgan Chase & Co. upped their target price on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Bank of America dropped their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Barclays boosted 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. Finally, Morgan Stanley decreased their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $85.55.

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Sysco price performance

Shares of SYY stock opened at $75.19 on Friday. The company has a debt-to-equity ratio of 6.19, a current ratio of 1.20, and a quick ratio of 0.69. The firm has a market cap of $37.44 billion, a P/E ratio of 18.34, a P/E/G ratio of 2.01 and a beta of 1.20. The company’s 50-day moving average is $75.87, and its two-hundred-day moving average is $75.57. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89.

Sysco (NYSE:SYY – Get Your Free Report ) last posted its 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 company had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. In the same quarter last year, the company earned $1.34 EPS. The company’s quarterly revenue was up 4.2% year over year. Analysts anticipate that Sysco Co. will record 4.6 earnings per share for the current fiscal year.

Sysco announces dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, October 4. This represents a dividend of $2.04 on an annualized basis and a yield of 2.71%. Sysco’s dividend payout ratio is currently 49.76%.

Sysco 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.