Isthmus Partners LLC Has $10 Million Stock Position in Sysco Co. (NYSE:SYY)

Isthmus Partners LLC lowered its holdings in shares of Sysco Co. (NYSE:SYY) by 2.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 128,632 shares of the company’s stock after selling 3,800 shares during the period. Sysco comprises about 1.8% of Isthmus Partners LLC’s portfolio, making the stock its 17th biggest holding. Isthmus Partners LLC’s holdings in Sysco were worth $10,001,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC increased its holdings in Sysco by 2.3% in the 1st quarter. Geode Capital Management LLC now owns 7,255,075 shares of the company’s stock worth $569,465,000 after purchasing an additional 162,208 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Sysco by 61.7% in the first quarter. Lazard Asset Management LLC now owns 6,441,428 shares of the company’s stock valued at $507,197,000 after buying an additional 2,457,144 shares during the period. Victory Capital Management Inc. increased its stake in shares of Sysco by 7.0% in the second quarter. Victory Capital Management Inc. now owns 4,929,844 shares of the company’s stock valued at $383,295,000 after buying an additional 320,908 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Sysco by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 4,728,293 shares of the company’s stock valued at $372,306,000 after buying an additional 161,578 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Sysco by 15.0% in the first quarter. Ameriprise Financial Inc. now owns 3,826,527 shares of the company’s stock valued at $301,331,000 after buying an additional 497,991 shares during the period. 79.81% of the stock is owned by institutional investors.

In related news, EVP Greg D. Bertrand sold 7,230 shares of Sysco stock in a transaction on Friday, August 27th. The stock was sold at an average price of $80.00, for a total transaction of $578,400.00. Following the completion of the sale, the executive vice president now owns 32,238 shares of the company’s stock, valued at $2,579,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.17% of the stock is currently owned by company insiders.

Several brokerages recently commented on SYY. Barclays upped their target price on Sysco from $80.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday, May 21st. UBS Group assumed coverage on Sysco in a report on Thursday, July 29th. They issued a “buy” rating and a $89.00 price target on the stock. Finally, Morgan Stanley increased their price target on Sysco from $88.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, May 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Sysco has a consensus rating of “Hold” and an average price target of $85.78.

NYSE:SYY traded down $0.32 during trading hours on Wednesday, reaching $75.46. The stock had a trading volume of 12,846 shares, compared to its average volume of 2,299,862. Sysco Co. has a 12-month low of $53.85 and a 12-month high of $86.73. The stock has a 50 day simple moving average of $75.77 and a 200 day simple moving average of $78.77. The company has a debt-to-equity ratio of 6.82, a quick ratio of 0.96 and a current ratio of 1.47. The stock has a market cap of $38.64 billion, a P/E ratio of 75.03, a price-to-earnings-growth ratio of 2.44 and a beta of 1.45.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Monday, August 9th. The company reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.11. The firm had revenue of $16.14 billion during the quarter, compared to analyst estimates of $14.65 billion. Sysco had a return on equity of 52.19% and a net margin of 1.02%. The business’s revenue for the quarter was up 82.0% on a year-over-year basis. During the same period last year, the company earned ($0.29) earnings per share. On average, equities analysts expect that Sysco Co. will post 3.49 earnings per share for the current fiscal year.

The firm also recently disclosed a dividend, which will be paid on Thursday, September 30th. Investors of record on Thursday, September 16th will be paid a dividend of $0.47 per share. This represents a yield of 2.4%. The ex-dividend date is Wednesday, September 15th. Sysco’s dividend payout ratio is 130.56%.

Sysco Company Profile

Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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