Richwood Investment Advisors LLC Sells 450 Shares of Sysco Co. (NYSE:SYY)

Richwood Investment Advisors LLC reduced its stake in Sysco Co. (NYSE:SYY) by 11.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,322 shares of the company’s stock after selling 450 shares during the quarter. Richwood Investment Advisors LLC’s holdings in Sysco were worth $259,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYY. Armstrong Advisory Group Inc. lifted its holdings in shares of Sysco by 1,240.0% in the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after purchasing an additional 310 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in Sysco in the 2nd quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new position in Sysco during the 1st quarter worth approximately $31,000. Fairscale Capital LLC bought a new position in shares of Sysco during the 2nd quarter worth approximately $38,000. Finally, Fairman Group LLC acquired a new stake in shares of Sysco in the fourth quarter valued at approximately $39,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SYY. Barclays increased their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Truist Financial dropped their target price on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. 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 research note on Tuesday, July 16th. Finally, Jefferies Financial Group upped their price objective on Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Sysco presently has an average rating of “Moderate Buy” and a consensus target price of $86.08.

Sysco Stock Performance

SYY traded up $1.26 during trading hours on Tuesday, reaching $76.48. The company’s stock had a trading volume of 981,368 shares, compared to its average volume of 3,149,244. The company’s 50-day moving average is $76.54 and its 200-day moving average is $74.99. Sysco Co. has a 52 week low of $63.18 and a 52 week high of $82.89. The firm has a market cap of $37.57 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 1.92 and a beta of 1.20. The company has a debt-to-equity ratio of 6.19, a quick ratio of 0.69 and a current ratio of 1.20.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.01. The company had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.34 earnings per share. On average, equities analysts forecast that Sysco Co. will post 4.6 EPS for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Friday, October 4th. Sysco’s dividend payout ratio is presently 52.44%.

Sysco Company Profile

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