Wilson & Boucher Capital Management LLC Trims Stock Holdings in Sysco Co. (NYSE:SYY)

Wilson & Boucher Capital Management LLC decreased its position in Sysco Co. (NYSE:SYYGet Rating) by 6.3% during the second quarter, Holdings Channel.com reports. The fund owned 11,275 shares of the company’s stock after selling 764 shares during the quarter. Wilson & Boucher Capital Management LLC’s holdings in Sysco were worth $955,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Sysco by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 45,402,613 shares of the company’s stock valued at $3,707,123,000 after purchasing an additional 409,441 shares during the last quarter. Wellington Management Group LLP increased its holdings in Sysco by 11.1% in the 1st quarter. Wellington Management Group LLP now owns 35,539,582 shares of the company’s stock valued at $2,901,806,000 after purchasing an additional 3,536,646 shares in the last quarter. BlackRock Inc. raised its position in shares of Sysco by 0.5% in the 1st quarter. BlackRock Inc. now owns 31,668,083 shares of the company’s stock valued at $2,585,695,000 after purchasing an additional 148,215 shares in the last quarter. State Street Corp grew its stake in Sysco by 2.0% during the 1st quarter. State Street Corp now owns 24,545,969 shares of the company’s stock worth $2,015,561,000 after buying an additional 477,454 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Sysco by 16.0% during the first quarter. Victory Capital Management Inc. now owns 6,115,488 shares of the company’s stock valued at $500,881,000 after purchasing an additional 842,927 shares during the last quarter. Hedge funds and other institutional investors own 82.43% of the company’s stock.

Analysts Set New Price Targets

SYY has been the topic of several analyst reports. Stephens began coverage on shares of Sysco in a report on Thursday. They issued an “overweight” rating and a $90.00 price target on the stock. JPMorgan Chase & Co. raised shares of Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 target price on the stock in a report on Thursday, May 26th. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 14th. Barclays cut their target price on Sysco to $100.00 in a research report on Monday, August 15th. Finally, Credit Suisse Group lowered their target price on Sysco from $107.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, August 10th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $93.67.

Sysco Trading Down 1.3 %

Shares of NYSE:SYY traded down $1.00 during trading on Friday, hitting $76.38. The company had a trading volume of 2,241 shares, compared to its average volume of 1,773,847. The company has a debt-to-equity ratio of 7.28, a current ratio of 1.20 and a quick ratio of 0.69. The company has a fifty day simple moving average of $83.98 and a two-hundred day simple moving average of $83.51. Sysco Co. has a one year low of $68.05 and a one year high of $91.53. The stock has a market cap of $38.66 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 2.07 and a beta of 1.01.

Sysco (NYSE:SYYGet Rating) last announced its earnings results on Tuesday, August 9th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Sysco had a net margin of 1.98% and a return on equity of 119.55%. The business had revenue of $18.96 billion during the quarter, compared to the consensus estimate of $18.29 billion. During the same period in the previous year, the company posted $0.71 earnings per share. The firm’s revenue was up 17.5% on a year-over-year basis. As a group, equities analysts forecast that Sysco Co. will post 4.2 earnings per share for the current year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be issued a $0.49 dividend. The ex-dividend date is Thursday, October 6th. This represents a $1.96 dividend on an annualized basis and a yield of 2.57%. Sysco’s payout ratio is currently 74.24%.

About Sysco

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Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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