Point View Wealth Management Inc. reduced its holdings in SYSCO Co. (NYSE:SYY) by 8.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,597 shares of the company’s stock after selling 344 shares during the period. Point View Wealth Management Inc.’s holdings in SYSCO were worth $254,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of SYY. FMR LLC increased its position in SYSCO by 29.4% in the 1st quarter. FMR LLC now owns 5,749,922 shares of the company’s stock worth $383,865,000 after buying an additional 1,306,410 shares during the period. Geode Capital Management LLC increased its position in SYSCO by 20.5% in the 4th quarter. Geode Capital Management LLC now owns 6,331,895 shares of the company’s stock worth $396,070,000 after buying an additional 1,076,459 shares during the period. Thoroughbred Financial Services LLC increased its position in SYSCO by 7,119.9% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 885,956 shares of the company’s stock worth $88,596,000 after buying an additional 873,685 shares during the period. Janus Henderson Group PLC increased its position in shares of SYSCO by 8.7% during the first quarter. Janus Henderson Group PLC now owns 7,948,553 shares of the company’s stock valued at $530,645,000 after purchasing an additional 633,041 shares during the period. Finally, AJO LP increased its position in shares of SYSCO by 425.4% during the first quarter. AJO LP now owns 733,329 shares of the company’s stock valued at $48,957,000 after purchasing an additional 593,750 shares during the period. 77.71% of the stock is currently owned by institutional investors.
SYY has been the topic of a number of research reports. Consumer Edge initiated coverage on SYSCO in a research report on Wednesday, July 17th. They set an “underweight” rating and a $71.75 price objective on the stock. Morgan Stanley boosted their price objective on SYSCO from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 7th. Loop Capital boosted their price objective on SYSCO to $80.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. lowered their price objective on SYSCO from $77.00 to $75.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. Finally, Pivotal Research restated a “sell” rating and set a $58.00 price objective (up from $54.00) on shares of SYSCO in a research report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $73.63.
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 given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Thursday, October 3rd. SYSCO’s dividend payout ratio (DPR) is 49.68%.
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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