Sysco Co. (NYSE:SYY) Stake Lessened by Carl P. Sherr & Co. LLC

Carl P. Sherr & Co. LLC cut its stake in Sysco Co. (NYSE:SYY) by 16.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,715 shares of the company’s stock after selling 918 shares during the period. Carl P. Sherr & Co. LLC’s holdings in Sysco were worth $345,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SYY. AdvisorNet Financial Inc boosted its holdings in shares of Sysco by 74.0% in the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after acquiring an additional 159 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in Sysco by 74.6% during the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock worth $28,000 after buying an additional 179 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in Sysco during the first quarter worth approximately $32,000. Tyler Stone Wealth Management bought a new stake in Sysco during the second quarter worth approximately $37,000. Finally, BluePath Capital Management LLC bought a new stake in Sysco during the third quarter worth approximately $38,000. 83.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of research reports. Barclays raised their target price on shares of Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. raised their target price on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. BMO Capital Markets raised their price objective on shares of Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Stephens raised their price objective on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.38.

Sysco Stock Up 0.2 %

SYY stock traded up $0.18 during midday trading on Wednesday, reaching $75.83. The company had a trading volume of 2,269,815 shares, compared to its average volume of 2,354,034. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00. The company has a market capitalization of $37.75 billion, a P/E ratio of 18.54, a PEG ratio of 1.54 and a beta of 1.15. The company has a 50 day moving average of $79.60 and a two-hundred day moving average of $74.22.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The company had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.32 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts expect that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be given a $0.50 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.64%. Sysco’s payout ratio is 48.90%.

Insiders Place Their Bets

In other news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares in the company, valued at approximately $1,926,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.58% of the company’s stock.

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.