Hyman Charles D Raises Stock Holdings in Sysco Co. (NYSE:SYY)

Hyman Charles D lifted its stake in shares of Sysco Co. (NYSE:SYY) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,541 shares of the company’s stock after acquiring an additional 625 shares during the quarter. Hyman Charles D’s holdings in Sysco were worth $1,210,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYY. Invesco Ltd. grew its position in shares of Sysco by 11.0% during the third quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock worth $717,283,000 after purchasing an additional 1,076,287 shares in the last quarter. Northern Trust Corp increased its position in shares of Sysco by 3.0% during the 3rd quarter. Northern Trust Corp now owns 6,138,310 shares of the company’s stock valued at $405,435,000 after purchasing an additional 178,464 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Sysco by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,798,311 shares of the company’s stock valued at $204,640,000 after buying an additional 59,371 shares during the period. Clarkston Capital Partners LLC lifted its position in Sysco by 0.4% in the third quarter. Clarkston Capital Partners LLC now owns 2,320,060 shares of the company’s stock worth $153,240,000 after buying an additional 9,385 shares during the last quarter. Finally, Primecap Management Co. CA raised its stake in shares of Sysco by 2.2% in the third quarter. Primecap Management Co. CA now owns 2,158,250 shares of the company’s stock valued at $142,552,000 after acquiring an additional 45,505 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sysco

In related news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the transaction, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.58% of the company’s stock.

Sysco Stock Up 0.5 %

Shares of NYSE:SYY traded up $0.36 during trading hours on Tuesday, hitting $75.84. The company’s stock had a trading volume of 3,333,289 shares, compared to its average volume of 2,970,474. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. The firm’s fifty day moving average price is $78.44 and its 200 day moving average price is $75.45. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a market capitalization of $37.77 billion, a price-to-earnings ratio of 18.50, a P/E/G ratio of 1.92 and a beta of 1.16.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The company had revenue of $19.38 billion during the quarter, compared to the consensus estimate of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. Sysco’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 earnings per share. As a group, research analysts expect that Sysco Co. will post 4.31 EPS for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be issued a $0.51 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.69%. This is a boost from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio (DPR) is currently 48.78%.

Wall Street Analyst Weigh In

Several brokerages recently commented on SYY. Stephens upped their price target on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Piper Sandler reduced their target price on Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. BMO Capital Markets lifted their price objective on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Finally, UBS Group dropped their target price on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and a consensus target price of $84.56.

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.