D.B. Root & Company LLC Sells 5,896 Shares of Sysco Co. (NYSE:SYY)

D.B. Root & Company LLC reduced its position in Sysco Co. (NYSE:SYY) by 38.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,389 shares of the company’s stock after selling 5,896 shares during the period. D.B. Root & Company LLC’s holdings in Sysco were worth $670,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SYY. Park National Corp OH increased its position in shares of Sysco by 27.7% during the second quarter. Park National Corp OH now owns 21,093 shares of the company’s stock valued at $1,506,000 after buying an additional 4,575 shares during the period. Aspire Private Capital LLC increased its position in shares of Sysco by 3.2% during the second quarter. Aspire Private Capital LLC now owns 10,120 shares of the company’s stock valued at $722,000 after buying an additional 316 shares during the period. Northwest Investment Counselors LLC increased its position in shares of Sysco by 2.9% during the second quarter. Northwest Investment Counselors LLC now owns 39,943 shares of the company’s stock valued at $2,852,000 after buying an additional 1,120 shares during the period. RFG Advisory LLC increased its position in shares of Sysco by 558.4% during the second quarter. RFG Advisory LLC now owns 27,204 shares of the company’s stock valued at $1,942,000 after buying an additional 23,072 shares during the period. Finally, Czech National Bank increased its position in shares of Sysco by 8.3% during the second quarter. Czech National Bank now owns 94,895 shares of the company’s stock valued at $6,775,000 after buying an additional 7,302 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Sysco Price Performance

SYY traded down $0.39 during midday trading on Monday, hitting $75.24. The stock had a trading volume of 1,645,836 shares, compared to its average volume of 3,130,951. The company has a market cap of $37.47 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 1.96 and a beta of 1.18. The business has a fifty day moving average of $72.81 and a 200 day moving average of $76.10. 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 Co. has a 1 year low of $62.24 and a 1 year high of $82.89.

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

Analysts Set New Price Targets

SYY has been the topic of several analyst reports. Morgan Stanley decreased their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft decreased their price target on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. BMO Capital Markets cut their price objective on Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Truist Financial cut their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a report on Monday, June 24th. Finally, Piper Sandler cut their price objective on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $85.27.

Sysco 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.