Sysco Co. (NYSE:SYY) Position Lessened by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management lowered its position in Sysco Co. (NYSE:SYY) by 27.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,208 shares of the company’s stock after selling 450 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Sysco were worth $92,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp increased its holdings in Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after buying an additional 2,721,449 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after purchasing an additional 672,940 shares in the last quarter. Primecap Management Co. CA lifted its stake in shares of Sysco by 9.7% in the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after purchasing an additional 422,954 shares during the last quarter. Montrusco Bolton Investments Inc. boosted its holdings in Sysco by 8.5% in the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock worth $366,789,000 after purchasing an additional 375,409 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in Sysco by 4.1% during the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock worth $332,983,000 after buying an additional 168,163 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction that occurred on 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 directly owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,270 shares of company stock worth $6,181,946 in the last 90 days. 0.54% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on SYY shares. Guggenheim reiterated a “buy” rating and set a $85.00 price target on shares of Sysco in a research note on Wednesday. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday. Morgan Stanley reduced their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday. Barclays lowered their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Truist Financial cut their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.21.

Sysco Stock Performance

SYY opened at $73.33 on Friday. The stock has a market cap of $36.02 billion, a PE ratio of 18.85, a P/E/G ratio of 1.96 and a beta of 1.18. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The stock’s 50 day simple moving average is $76.40 and its 200-day simple moving average is $76.00. The company has a current ratio of 1.20, a quick ratio of 0.73 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the previous year, the business posted $0.89 earnings per share. Sell-side analysts forecast that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 24th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.78%. Sysco’s payout ratio is presently 52.44%.

About Sysco

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.