Several institutional investors recently adjusted their positions in Sysco (SYY). Capital World Investors increased its shares by 17.5%, now holding 10,984,950 shares valued at $891.76 million. Ameriprise Financial raised its stake by 26.1%, now owning 8,623,178 shares worth $615.08 million. Capital Research Global Investors boosted its holdings by 112.8% to 6,612,092 shares valued at $536.77 million. Diamond Hill Capital Management increased its shares by 49.8%, now holding 6,012,607 shares worth $429.24 million. ProShare Advisors raised its stake by 103.0% to 4,746,176 shares valued at $338.83 million. In total, institutional investors own 83.41% of Sysco’s stock.
Analyst Ratings
Analysts have shared updates on Sysco’s stock. Truist Financial lowered its price target from $87 to $85 but maintains a “buy” rating. Jefferies Financial raised its target from $91 to $92, keeping a “buy” rating. StockNews.com upgraded Sysco from “buy” to “strong-buy.” Barclays lifted its target from $85 to $88 with an “overweight” rating. Morgan Stanley cut its target from $82 to $81, rating it “equal weight.” Overall, Sysco has two hold ratings, ten buy ratings, and one strong buy, with an average rating of “Moderate Buy” and a target price of $86.08.
Stock Performance
Sysco (NYSE: SYY) opened at $74.42. It has a 12-month low of $62.45 and a high of $82.89, with a market cap of $36.56 billion and a price-to-earnings ratio of 19.13. Sysco reported $1.39 earnings per share (EPS) last quarter, surpassing estimates, with a revenue of $20.56 billion, up 4.2% year-over-year.
Dividend Announcement
Recently, Sysco declared a quarterly dividend of $0.51, payable on October 25, 2023, for shareholders of record on October 4, 2023, representing an annual yield of 2.74%.
About Sysco
Sysco Corporation distributes food and related products for the foodservice industry across the U.S., Canada, the UK, France, and globally.
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