Hyman Charles D Decreases Position in Sysco Co. (NYSE:SYY)

Hyman Charles D reduced its stake in Sysco Co. (NYSE:SYY) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,266 shares of the company’s stock after selling 275 shares during the period. Hyman Charles D’s holdings in Sysco were worth $1,018,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYY. TruNorth Capital Management LLC acquired a new stake in Sysco during the 2nd quarter worth $25,000. First United Bank & Trust purchased a new stake in Sysco during the 4th quarter valued at approximately $26,000. Verity & Verity LLC acquired a new stake in Sysco during the 1st quarter worth approximately $26,000. Burkett Financial Services LLC purchased a new position in Sysco in the 4th quarter valued at $30,000. Finally, OFI Invest Asset Management acquired a new position in Sysco in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

SYY has been the topic of a number of recent analyst reports. UBS Group dropped their price target 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. Morgan Stanley reduced their price target on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Finally, Truist Financial reduced their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.27.

Sysco Price Performance

Shares of NYSE SYY traded down $0.18 during trading on Monday, reaching $76.98. The company had a trading volume of 2,246,450 shares, compared to its average volume of 3,006,649. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 6.19. The stock has a market capitalization of $38.33 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 2.02 and a beta of 1.18. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The stock has a 50-day moving average price of $73.73 and a two-hundred day moving average price of $75.88.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $20.56 billion for the quarter, compared to analyst estimates of $20.51 billion. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.34 EPS. As a group, sell-side analysts predict that Sysco Co. will post 4.6 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Friday, October 4th. Sysco’s dividend payout ratio (DPR) is 49.76%.

Sysco Company 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.