Everett Harris & Co. CA Reduces Position in Sysco Co. (NYSE:SYY)

Everett Harris & Co. CA trimmed its holdings in shares of Sysco Co. (NYSE:SYY) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,008 shares of the company’s stock after selling 458 shares during the period. Everett Harris & Co. CA’s holdings in Sysco were worth $4,282,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. increased its holdings in Sysco by 1,240.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after acquiring an additional 310 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Sysco in the 3rd quarter valued at $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sysco during the third quarter valued at about $31,000. Focused Wealth Management Inc acquired a new stake in shares of Sysco in the third quarter valued at $37,000. Finally, Canoe Financial LP acquired a new stake in shares of Sysco during the third quarter worth about $38,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sysco

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the sale, the director now owns 12,955 shares in the company, valued at $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,270 shares of company stock valued at $6,181,946. 0.54% of the stock is currently owned by corporate insiders.

Sysco Stock Down 0.7 %

Shares of NYSE SYY opened at $72.79 on Friday. The business has a fifty day moving average of $76.36 and a two-hundred day moving average of $75.98. The stock has a market cap of $35.76 billion, a PE ratio of 18.71, a PEG ratio of 1.96 and a beta of 1.18. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.73 and a current ratio of 1.20. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.89.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period last year, the firm posted $0.89 EPS. As a group, equities research analysts expect that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were issued a $0.51 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.80%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SYY. Melius assumed coverage on shares of Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price on the stock. Barclays cut their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday. Truist Financial reduced their target price on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday. Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, UBS Group cut their price target on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $84.85.

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.